Language Page 421, after line 14, insert:"§ 3-5.01 ASSESS RECORDATION FEEIn addition to the state recordation tax collected pursuant to § 58.1-801 A, Code of Virginia, there is hereby assessed a $5 fee on every deed admitted to record on or after May 1, 2002. Proceeds collected are to be deposited into the general fund of the state treasury.”
Explanation(This amendment assesses a fee, in addition to the state recordation tax collected pursuant to § 58.1-801 A, Code of Virginia, on each deed admitted to record on or after May 1, 2002. A companion amendment increases general fund revenues by $5.4 million each year.)