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2018 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Hanger
Recordation Tax Fee (language only)

Item 3-6.01 #1s

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

Language

Page 469, line 18, strike "The revenue generated from fifty percent of such fee shall be deposited to the general fund."

Page 469, line 19 strike "from the other fifty percent of " and insert "from"

Explanation

(This amendment removes the deposit of one-half of the revenues generated by the Recordation Tax Fee to the General Fund. Accordingly, the general fund revenues available for appropriation will be reduced by $10.0 million in each year. A companion amendment to Item 362 increases the deposit to the Virginia Natural Resources Commitment Fund by $10.0 million in nongeneral fund in each year.)

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