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2020 SESSION

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HB 1726 Hampton Roads Regional Transit Program and Fund; created, transit funding.

Introduced by: Alex Q. Askew | all patrons    ...    notes | add to my profiles | history

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION:

Hampton Roads Regional Transit Program. Creates the Hampton Roads Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional (i) regional grantor's tax at a rate of $0.06 per $100 of the consideration for the conveyance and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy, both imposed in localities in the Hampton Roads Transportation District. The bill also dedicates $20 million of revenues from existing recordation taxes to funding the program. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. Use of the funds would require a two-thirds vote of the localities in which the new taxes were imposed. The bill also includes a local maintenance of effort of public transportation funding. This bill is identical to SB 1038.

SUMMARY AS PASSED:

Hampton Roads Regional Transit Program. Creates the Hampton Roads Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional (i) regional grantor's tax at a rate of $0.06 per $100 of the consideration for the conveyance and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy, both imposed in localities in the Hampton Roads Transportation District. The bill also dedicates $20 million of revenues from existing recordation taxes to funding the program. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. This bill is identical to SB 1038.

SUMMARY AS PASSED HOUSE:

Transportation funding in the Hampton Roads region. Raises additional revenues for the Hampton Roads Transportation Fund by levying a regional grantors tax and a regional transient occupancy tax.  The bill provides that the new revenues generated shall be used operate a regional system of inter-jurisdictional, high-frequency bus service in the region.

SUMMARY AS INTRODUCED:

Transportation funding in the Hampton Roads region. Raises additional revenues for the Hampton Roads Transportation Fund by levying a regional grantors tax and a regional transient occupancy tax, and a tax on transportation network providers of transportation for compensation originating or terminating in a locality in Planning District 23. The bill also the existing regional gas tax to 3.1 percent per gallon of gasoline or diesel fuel and indexes the tax rate annually beginning July 1, 2021. The bill establishes a tax on Transportation Network Providers, with allocation of the revenues to transit across the Commonwealth. The bill provides that the new revenues generated shall be used operate a regional system of inter-jurisdictional, high-frequency bus service in the region.