2007 Session

Budget Bill - HB1650 (Chapter 847)

Department of Taxation

Item 264

Item 264

First Year - FY2007Second Year - FY2008
Planning, Budgeting, and Evaluation Services (71500)$2,940,607$2,936,737
Tax Policy Research and Analysis (71507)FY2007 $1,270,603FY2008 $1,266,733
Appeals and Rulings (71508)FY2007 $974,210FY2008 $974,210
Revenue Forecasting (71509)FY2007 $695,794FY2008 $695,794
Fund Sources:  
GeneralFY2007 $2,940,607FY2008 $2,936,737

Authority: §§ 2.2-1503, 15.2-2502, 58.1-202, 58.1-207, 58.1-210, 58.1-213, 58.1-816, and 58.1-3406, and Title 10.1, Chapter 14, Code of Virginia.

A. The Department of Taxation shall continue the staffing and responsibility for the revenue forecasting of the Commonwealth Transportation Funds, including the Department of Motor Vehicles Special Fund, as provided in § 2.2-1503, Code of Virginia. The Department of Motor Vehicles shall provide the Department of Taxation with direct access to all data records and systems required to perform this function. The Department of Planning and Budget shall effectuate the transfer of three full-time equivalent positions and sufficient funding to ensure the successful consolidation of this function.

B. The Secretary of Finance and the Commissioner of the Department of Taxation shall report to the Chairmen of the Senate Finance and House Appropriations Committees by November 1 of each year on the actual and projected disbursements under the Commonwealth's Personal Property Tax Relief (PPTR) Act program for each affected locality.