Vehicle Sales and Use Tax; increase for transportation purposes. (HB2071)
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
Motor vehicle sales and use tax; increase for transportation purposes. Increases the motor vehicle sales and use tax from 3% to 5% and dedicates the revenue generated for various transportation purposes. The authority to impose the additional tax ceases on December 31 of any year in which any of the additional revenue is not used for transportation purposes. The bill also requires the Department of Transportation to report in each odd year on the condition and needs for maintaining and operating the existing transportation infrastructure for all asset management and maintenance based on an asset management methodology. Amends § 58.1-2402 (“(Effective until July 1, 2012) Levy.”), § 58.1-2425 (“(Effective until July 1, 2012) Disposition of revenues.”), of the Code of Virginia. View Full Text »
