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1996 SESSION

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SB 347 Coal and gas road improvement tax.

Introduced by: William C. Wampler, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Coal and gas road improvement tax. Increases the portion of coal and gas road improvement tax revenue that localities in the Virginia Coalfield Economic Development Authority may allocate to water projects from 18.25 percent to 37.5 percent. Localities using revenues from this tax for water projects must develop annual plans for funding water projects. Priority will be given to projects that replace water supplies lost due to mining, preserve endangered water supplies, facilitate projects that encourage diversified economic development, and increase the capacity of water treatment and supply facilities. Regional projects will be encouraged. Revenues from this tax may not be spent on water projects except in accordance with an approved plan.


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