HB5059: Transportation; additional statewide funding dedicated thereto.

Chief Patron

Del. Mark Sickles (D-43)

Status

Bill is Dead

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Summary

Transportation; additional statewide funding.  Provides additional funding for transportation purposes statewide by: (i) imposing an additional fee for each conviction as shown on the driving record of certain motor vehicle law offenders; (ii) dedicating to the Transportation Trust Fund 75% of any annual general fund surplus revenues remaining after any required deposits to the Revenue Stabilization Fund and to the Virginia Water Quality Improvement Fund; (iii) by returning to localities an amount equivalent to 10 cents on every $100 of the consideration for each deed or other instrument for which a state recordation tax is imposed to the locality in which it was generated; (iv) increasing the tax rate on diesel fuel from $0.16 to $0.175 (the same as imposed on gasoline), and indexing the tax rates of gasoline and diesel fuel to inflation.   View Full Text »