Transportation funding; repeals motor fuels taxes and increases retail sales and use tax. (SB1366)

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Transportation funding. Repeals Virginia's motor fuels taxes and increases the retail sales and use tax by an additional one percent, with the revenues from the increase deposited into the Transportation Trust Fund. The state and local retail sales and use tax would not apply to motor fuels, with the exception of the two percent sales and use tax on motor fuels in Northern Virginia. The new rate for the combined retail sales and use tax would be six percent. The bill would not affect the amount of the current fee imposed for the Virginia Petroleum Storage Tank Fund. Amends § 33.1-23.03:8, § 58.1-1718.1, § 58.1-1720, § 58.1-1723, § 58.1-3700.1, § 58.1-603, § 58.1-604, § 58.1-604.1, § 58.1-608.3, § 58.1-609.1, § 58.1-614, § 58.1-638, § 58.1-639, § 62.1-44.34:13, of the Code of Virginia. View Full Text »

Bill Has Failed