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1996 SESSION
SB 177 Distribution of recordation tax to localities.
Introduced by: Joseph V. Gartlan, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Distribution of recordation tax to localities. Increases the amount of state recordation tax revenue that is distributed to local governments, the Northern Virginia Transportation District Fund, and the Transportation Improvement Program Set-aside Fund from $40 million to $50 million. Subject to transfers to the Northern Virginia Transportation District Fund and Transportation Improvement Program Set-aside Fund, the moneys are apportioned among cities and counties based on the pro rata share of recordation tax generated by instruments recorded in each locality.
FULL TEXT
HISTORY
- 01/17/96 Senate: Presented & ordered printed 964618661
- 01/17/96 Senate: Referred to Committee on Finance
- 02/13/96 Senate: Left in Finance