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2013 Session

Budget Amendments - HB1500 (Member Request)

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Chief Patron: Edmunds
Dedication of Recordation Tax Fee to AG BMPs (language only)

Item 3-6.01 #1h

Item 3-6.01 #1h
Adjustments and Modifications to Fees
Recordation Tax Fee

Language
Page 491, line 33, strike, "The revenue generated from fifty percent of such fee shall be deposited to the general fund."
Page 491, line 34, strike, "the other fifty percent of".

Explanation
(This amendment allocates $18.2 million collected from the imposition of a $20 deed recordation fee for use by the Virginia Natural Resources Commitment Fund for implementation of agricultural best management practices. The $18.2 million represents the entire amount generated from this deed recordation fee. Currently, 50 percent of the collections are deposited into the general fund and 50 percent of the collections are deposited into the Virginia Natural Resources Commitment Fund.)

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