FLOOR AMENDMENTS (SASLAW) REJECTED BY SENATE

1. Page 11, substitute, line 9, after exceeds

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seven and three-quarters

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six

2. Page 11, substitute, after line 26 (AMENDMENT WITHDRAWN)

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3. That commencing with fiscal year 2000-2001, neither any budget bill submitted by the Governor pursuant to subsection A of § 2.1-399 nor any amendments to a general appropriation act submitted by the Governor pursuant to subsection B of § 2.1-399 shall dedicate for reimbursements to localities pursuant to Chapter 35.1 (§ 58.1-3523 et seq.) of Title 58.1 an amount that exceeds six percent of the amount of total general fund revenues available for appropriation, excluding balances, in any fiscal year. If a general fund revenue forecast provided by the Governor in December of any year indicates that the appropriation of funds for such purpose at the level stated in the Department of Motor Vehicle's estimate pursuant to § 58.1-3529 would exceed such six percent limitation, then the percentage amount determined under subsection B of § 58.1-3524 shall be reduced to a percentage, to be determined by the Department of Motor Vehicles, that would require the amount to be reimbursed by the Commonwealth to localities for such purpose to not exceed such six percent limitation. In such event, (i) the Department of Motor Vehicles shall notify treasurers of the reduced percentage and (ii) the amount of the deduction appearing on tangible personal property tax bills for such tax year shall be based upon such reduced percentage. The provisions of subdivisions E 1 and E 2 of § 58.1-3524 shall apply with respect to decreases in the percentage amount required pursuant to this enactment.

FLOOR AMENDMENTS (HANGER) REJECTED BY SENATE

1. Page 1, substitute, line 13, after trucks

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used for non-business purposes

2. Page 5, substitute, line 39, after vehicle (AMENDMENT WITHDRAWN)

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remainder of line 39 and all of lines 40 and 41

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. (period)

3. Page 5, substitute, line 45, after 58.1-3511

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remainder of line 45 and all of lines 46 through 51

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. (period)

4. Page 5, substitute, line 53, after 1997.

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However, for purposes of computing the reimbursable amount in this act, the effective tax rate shall be the lessor of the actual effective tax rate or three dollars per hundred valuation (3.00%)

5. Page 6, substitute, line 7

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all of lines 7 through 16

6. Page 6, substitute, line 18, after vehicle.

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This value, even if a percentage less than 100% as used by the locality on July 1, 1997, shall be based on a uniform schedule of valuations used statewide. The locality must maintain the same methodology as used on July 1, 1997 as applies to use of wholesale, retail, or loan value when selecting the appropriate valuation from the uniform statewide schedule.

7. Page 10, substitute, line 45 (AMENDMENT WITHDRAWN)

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all of lines 45 through 54 and all of lines 1 through 5 on page 11

8. Page 11, substitute, after line 39

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Notwithstanding the provisions of Chapter 35.1, § 3523 through 3536, it shall be the intent of the Commonwealth that by the time the provisions of this chapter are carried out, in the year 2003 or thereafter, that a plan shall have been developed to eliminate the payment of tax based on the valuation of qualifying vehicles and shall be replaced with a block grant from the Commonwealth to the locality based upon an agreed upon base amount in the year 2002 or thereafter, with provisions for an annual increase based on a regional CPI. Provision shall also be made by that time for an alternate source for localities to generate the local revenue not previously exempted from local control and transferred to the state under the provisions of Chapter 35.1.