HB 422 Transportation; additional funding by imposing and increasing certain taxes.
Vivian E. Watts | all patrons    ...    notes
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Summary as introduced:

Transportation funding and administration. Provides additional funding for transportation by (i) imposing a motor fuels sales tax rate of five percent, phased in over five years, for highway maintenance; (ii) increasing the state sales tax in Northern Virginia by 0.5 percent for transportation projects in Northern Virginia; and (iii) adding an additional recordation tax in Northern Virginia at a rate of $0.40 per $100 valuation. The motor fuels tax is not effective until the unemployment rate in the Commonwealth decreases for four consecutive quarters after July 1, 2011. The bill also reduces the sales and use tax rate on food for human consumption from 1.5 percent to one percent and repeals the authority for certain localities to impose a local income tax. In addition, the bill removes the sunset date from the 2009 Act of Assembly that reduced the special real property tax rate on commercial property in the localities embraced by the Northern Virginia Transportation Authority from $0.25 per $100 of assessed value to $0.125 per $100 of assessed value. Finally, the bill increases the special real property tax rate on commercial property in localities in Hampton Roads from $0.10 per $100 of assessed value to $0.125 per $100 of assessed value.

Full text:
01/10/12  House: Prefiled and ordered printed; offered 01/11/12 12103112D  pdf | impact statement

Status:
01/10/12  House: Prefiled and ordered printed; offered 01/11/12 12103112D
01/10/12  House: Referred to Committee on Finance
01/20/12  House: Assigned Finance sub: #2
02/01/12  House: Subcommittee recommends laying on the table by voice vote
02/14/12  House: Left in Finance