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2024 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Sturtevant
Restore Full Dealer Discount Included in the Code (language only)

Item 3-5.06 #1s

Item 3-5.06 #1s

Adjustments and Modifications to Tax Collections
Discounts and Allowances

Language

Page 574, after lines 44, insert:

"E. Beginning with the return for June 2024, due July 2024, the provisions of paragraphs A. and B. above shall be rescinded and compensation provided to dealers shall be consistent with the provisions set forth in Title 58.1 of the Code of Virginia."



Explanation

(This amendment restores the full dealer discount as set in the Code of Virginia. Restoring the dealer discount to this level will reduce revenues by a preliminary estimate of $86.0 million per year. The actual impact is to be determined.)