SB655: Retail Sales and Use Tax; revenue from certain public facilities for certain designated cities.

Chief Patron

Nick Rerras (R-Norfolk)
Served: 2000–

Progress

☑	Introduced
☑	Passed Committee
☑	Passed House
☑	Passed Senate
☑	Signed by Governor
☑	Became Law

Status

04/05/2006: signed by governor
View Entire History

Summary

Entitlement to certain sales tax revenues. Entitles the City of Norfolk to all sales tax revenues generated by transactions taking place in certain public facilities to pay the cost of bonds issued to pay for such public facilities. Such entitlement shall continue for the lifetime of such bonds, which entitlement shall not exceed 35 years, and all such sales tax revenues shall be applied to repayment of the bonds. The bill also clarifies that a public facility does not include any residential condominiums, town homes, or residential units. View Full Text »

Poll Results

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Bill Text

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