Menu
2006 Session

Budget Amendments - HB30 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Wardrup
Dedicate Recordation Tax to Transportation

Item 443 #19h

Item 443 #19h

First Year - FY2007 Second Year - FY2008
Transportation
Transportation, Department of FY2007 $565,800,000 FY2008 $571,700,000 NGF

Language
Page 377, line 24, strike "$1,972,525,260" and insert "$2,538,325,260".
Page 377, line 24, strike "$1,688,525,260" and insert "$2,260,225,260".
Page 378, after line 47, insert:
"E.  Included in the amounts for this item is an amount estimated at $565,800,000 in the first year and $571,700,000 in the second year in Commonwealth Transportation Funds attributable to the additional recordation tax revenues dedicated to transportation pursuant to the provisions of House Bill 659, 2006 Session of the General Assembly.  These funds shall be deposited into the Commonwealth Transportation Projects Fund created pursuant to § 58.1-819, Code of Virginia, and be allocated by the Commonwealth Transportation Board for transportation projects across the Commonwealth in proportion to the share of recordation tax revenues attributable to deed recordings in the respective jurisdictions."


Explanation
(This amendment appropriates an additional $565.8 million in the first year and $571.7 million in the second year to transportation construction projects across the Commonwealth pursuant to House Bill 659, 2006 Session of the General Assembly. That legislation dedicates all revenues generated by the deed recording tax to transportation. Funding is to be distributed to projects based on each locality's share of tax revenues attributable to deed recordings in the respective jurisdictions.)