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1999 SESSION

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SB 19 Personal property tax; retail sales & use tax rate, lottery proceeds.

Introduced by: Kevin G. Miller | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Personal property tax; retail sales and use tax rate; lottery proceeds. Exempts passenger vehicles, pickup trucks, motorcycles, and recreational vehicles from the tangible personal property tax. The retail sales and use tax rate is increased by one-half percent, and the additional revenue will be distributed to counties, cities, and towns on a per capita basis. Proceeds from the state lottery will be distributed among counties and cities on the basis of their school-age populations. The measure will take effect on the January 1 following voter approval of a constitutional amendment authorizing the General Assembly to exempt passenger vehicles, pickup trucks, motorcycles, and recreational vehicles from taxation, except the provisions relating to the distribution of lottery proceeds will take effect the following July 1.


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