2002 Session

Budget Amendments - HB30 (Committee Approved)

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Portion Mobile Home and Vehicle Rental Taxes Retained by DMV (language only)

Item 480 #2h

Item 480 #2h

Motor Vehicles, Department of

Page 343, line 26, at the beginning of the line, insert "A."
Page 343, after line 35, insert:
"B. This appropriation includes $1,320,000 the first year and $1,320,000 the second year from nongeneral funds. The source of the nongeneral funds is the vehicle rental taxes collected by the Department.  Notwithstanding  §
58.1-2425, Code of Virginia, the Department of Motor Vehicles shall retain these amounts to offset the agency's administrative costs."

(This amendment provides the Department the authority to retain $1,320,000 each year from vehicle rental taxes collected for administrative costs. This amount represents approximately 3.4 percent of taxes collected.)