Retail Sales and Use Tax; increased from four percent to five percent, and distribution of revenues. (HB1239)

Introduced By

Del. Lacey Putney (I-Bedford)

Progress

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

Description

Retail sales and use tax increase.  Increases the state retail sales and use tax from four percent to five percent beginning January 1, 2013, subject to a statewide referendum on the same. The increase in the state retail sales and use tax would result in a combined state and local retail sales and use tax of six percent. One-half of the revenues generated would be deposited into a new special fund, the Supplemental Highway Construction and Maintenance Fund, and one-half of the revenues generated would be used in accordance with the general appropriation act for the provision of mental health services, public K through 12 education, and public higher education.

Of the sales and use tax revenues deposited into the Supplemental Highway Construction and Maintenance Fund, $200 million each fiscal year would be used for the construction of secondary system roads. The remaining sales and use tax revenues deposited into the Fund would be distributed to the Highway Maintenance and Operating Fund to be used (i) to repair bridges that are structurally deficient or functionally obsolete and (ii) for maintenance of the Commonwealth's highways. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/20/2012Committee
01/20/2012Presented and ordered printed 12104108D
01/20/2012Referred to Committee on Finance
01/24/2012Assigned Finance sub: #2
01/24/2012Impact statement from TAX (HB1239)
01/25/2012Subcommittee recommends laying on the table
02/14/2012Left in Finance

Map

This bill mentions Hopewell, Richmond, University of Virginia, Charlottesville, Alexandria, Falls Church, Arlington.