Retail Sales and Use Tax; increases distribution to Transportation Trust Fund. (SB132)

Introduced By

Sen. Mark Obenshain (R-Harrisonburg)

Progress

√
 Introduced
X
 Passed Committee
☐
 Passed House
☐
 Passed Senate
☐
 Signed by Governor
☐
 Became Law

Description

Retail sales and use tax; distribution to Transportation Trust Fund.  Increases the distribution to the Transportation Trust Fund from the sales and use tax revenue generated by a one-half percent sales and use tax to the sales and use tax revenue generated by a one percent sales and use tax upon the Comptroller determining in any fiscal year that (i) the growth in general fund revenues for the most recently completed fiscal year was at least three percent, and (ii) the actual dollar increase in general fund revenues for the most recently completed fiscal year was at least equal to the sales and use tax revenue generated by a one-half percent sales and use tax. Amends § 58.1-602, § 58.1-638, of the Code of Virginia. View Full Text »

Outcome

Bill Has Failed

History

  • 01/11/2010 Prefiled and ordered printed; offered 01/13/10 10102072D
  • 01/11/2010 Referred to Committee on Finance
  • 02/12/2010 Impact statement from DPB (SB132)
  • 02/16/2010 Left in Finance