HB5027: Transportation Trust Fund; dedication of certain recordation tax revenue.

HOUSE BILL NO. 5027
Offered July 31, 2006
A BILL to amend the Code of Virginia by adding a section numbered 58.1-815.4, relating to the dedication of certain recordation taxes to the Transportation Trust Fund.
Patron-- Lingamfelter

Referred to Committee on Appropriations

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 58.1-815.4 as follows:

§ 58.1-815.4. Disposition of certain revenues.

An amount equivalent to the net additional revenues generated by that portion of Chapter 3 of the 2004 Special Session I of the Virginia General Assembly, which amended §§ 58.1-801, 58.1-803, 58.1-807, and 58.1-808, shall be distributed annually and paid into the Transportation Trust Fund pursuant to § 33.1-23.03:1, and is hereby appropriated to the Commonwealth Transportation Board for transportation needs.