Retail Sales and Use Tax; dedicate portion of state's general fund share to WMATA. (HB5039)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Sales and use tax; dedicate portion of state's general fund share to WMATA. Requires that, from the Commonwealth's current share of the state sales and use tax, an amount equivalent to the revenue generated by a 0.25 percent sales and use tax on sales from the Counties of Arlington and Fairfax, and the Cities of Alexandria, Fairfax, and Falls Church, shall be dedicated for use by the Washington Metropolitan Area Transit Authority (WMATA), as may be provided by federal law for the payment of certain federal funds to WMATA and only at such time as the federal law is enacted. The bill will be effective June 1, 2007. Amends § 58.1-638 (“Disposition of state sales and use tax revenue; localities\u2019 share; Game Protection Fund.”), of the Code of Virginia. View Full Text »
