HB 2725 Sales tax; additional tax in No. Va. to fund transportation projects.
John A. (Jack) Rollison, III | all patrons    ...    notes
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Summary as introduced:
Sales and use tax; additional tax in Eighth Planning District to fund transportation projects. Increases the state sales and use tax by one-half percent in all cities and counties within the Eighth Planning District. The revenues from such increase shall be deposited into the Northern Virginia Transportation Fund to fund transportation projects in the Eighth Planning District. The bill also increases the maximum principal amount of transportation revenue bonds that may be issued for the Northern Virginia Transportation District Program from $471.2 million to $2.65 billion, specifies additional transportation projects to be funded by such bonds, and authorizes the Commonwealth Transportation Board to designate additional transportation projects to be paid for from the Northern Virginia Transportation Fund under certain conditions. The bill has a delayed effective date of January 1, 2002, and is contingent upon approval by a majority of persons voting in a joint referendum of all the cities and counties in the Eighth Planning District on November 6, 2001.

Full text:
01/18/01  House: Presented & ordered printed 012832916  pdf | impact statement

Status:
01/18/01  House: Presented & ordered printed 012832916
01/18/01  House: Referred to Committee on Finance
01/26/01  House: Assigned to Finance sub-committee: 2
01/31/01  House: Failed to report (defeated) in Finance (11-Y 11-N)