(HB3202)

AMENDMENT(S) REJECTED BY THE SENATE

SEN. NORMENT (WITHDRAWN)

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        23. That $250 million each fiscal year beginning July 1, 2008, is appropriated and shall be transferred each fiscal year from the general fund and deposited into the Transportation Trust Fund and used according to the allocation as provided in 33.1-23.03:2 of the Code of Virginia.

SEN. NORMENT

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        23. That $100 million each fiscal year beginning July 1, 2008, is appropriated and shall be transferred each fiscal year from the general fund and deposited into the Transportation Trust Fund and used according to the allocation as provided in 33.1-23.03:2 of the Code of Virginia.

SEN. DEVOLITES-DAVIS

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        remainder of line 13 and all of line 14

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SEN. DEVOLITES-DAVIS

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SEN. DEVOLITES-DAVIS

    3. Line 2453, substitute

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        all of lines 2453 through 2482

SEN. DEVOLITES-DAVIS

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        all of lines 2619 through 2648

SEN. DEVOLITES-DAVIS

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        58.1-3221.3. Classification of commercial real property in certain localities; transportation impact commercial real property tax.

        A. Beginning January 1, 2008, solely for the purposes of imposing the tax authorized pursuant to this section, in the counties and cities that are included in the Northern Virginia Transportation Authority established pursuant to 15.2-4830, real estate used for commercial or industrial purposes is hereby declared to be a separate class of property. Real estate used for commercial or industrial purposes does not include real estate for which no permit for use has been issued for occupancy of any premises for commercial use. In addition to all other taxes and fees permitted by law, the governing body of any such locality may, by ordinance, declare the entire locality a special regional transportation tax district and impose a transportation impact commercial real property tax at the rate of 0.25% of the fair market value of such property.

        B. The governing body of any locality imposing the additional tax imposed pursuant to this section shall appropriate the additional revenue generated to the Northern Virginia Transportation Authority and the revenue shall be used according to the provisions of 15.2-4838.1.

        C. No locality imposing the tax pursuant to this section shall cease to impose such tax so long as the Northern Virginia Transportation Authority (i) is engaged in a transportation project within the boundaries of the locality, (ii) has entered into a binding commitment to begin a transportation project within the boundaries of the locality, or (iii) has issued bonds or incurred other evidence of debt that has not been satisfied or paid in full and that relates to a transportation project undertaken by the Authority within the boundaries of the locality.

        D. The tax imposed pursuant to the authority granted under this section shall be administered, enforced, and collected in the same manner as set forth in Subtitle III of Title 58.1 for the administration, enforcement, and collection of local taxes.


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