Item 3-5.31 (Retail Sales and Use Tax Exemption for Certain Drilling Equipment) SB6002 - Introduced

State Budget

2024 Special Session I

Budget Bill - SB6002 (Introduced)

Bill Order » Part 3: Miscellaneous » Adjustments and Modifications to Tax Collections » Item 3-5.31

Retail Sales and Use Tax Exemption for Certain Drilling Equipment

Item 3-5.31

Item 3-5.31

§3-5.31 ENTITLEMENT TO CERTAIN SALES TAX REVENUES

Notwithstanding § 58.1-608.3 or any other provision of law and for purposes of a municipality entitled to certain sales tax revenues pursuant to § 58.1-608.3, "sales tax revenues" means the revenue generated by the 2.025 percent unrestricted sales and use tax under the Virginia Retail Sales and Use Tax Act (§ 58.1-600 et seq.).