2004 Special Session I

Budget Amendments - HB5001 (Committee Approved)

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Deposit Recordation Fees to General Fund (language only)

Item 3-6.01 #2h

Item 3-6.01 #2h

Adjustments and Modifications to Fees
Recordation Tax Fee

Page 440, line 41, strike "A."
Page 440, line 43, after "Virginia.", strike the remainder of the line and insert:
"The revenue generated from such fee shall be deposited to the general fund."
Page 440, strike lines 44 through 47.
Page 441, strike lines 1 through 3.

(This amendment deletes language authorizing the deposit of revenues collected from a 10 dollar fee assessed on all deeds for which recordation taxes are collected and the admission of certificates of satisfactions to the proposed Virginia Natural and Historic Resources Fund. The purpose of this fund was to provide support to the Virginia Land Conservation Trust Fund and the Water Quality Improvement Fund. The amendment, however, ensures that the proceeds of this fee will continue to be deposited to the general fund as originally intended by the 2002 Session of the General Assembly.)