VA HB1239 | 2012 | Regular Session

Status

Spectrum: Partisan Bill (Independent 1-0)
Status: Introduced on January 20 2012 - 25% progression, died in committee
Action: 2012-02-14 - House: Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Retail sales and use tax increase. Increases the state retail sales and use tax from four percent to five percent beginning January 1, 2013, subject to a statewide referendum on the same. The increase in the state retail sales and use tax would result in a combined state and local retail sales and use tax of six percent. One-half of the revenues generated would be deposited into a new special fund, the Supplemental Highway Construction and Maintenance Fund, and one-half of the revenues generated would be used in accordance with the general appropriation act for the provision of mental health services, public K through 12 education, and public higher education. Of the sales and use tax revenues deposited into the Supplemental Highway Construction and Maintenance Fund, $200 million each fiscal year would be used for the construction of secondary system roads. The remaining sales and use tax revenues deposited into the Fund would be distributed to the Highway Maintenance and Operating Fund to be used (i) to repair bridges that are structurally deficient or functionally obsolete and (ii) for maintenance of the Commonwealth's highways.

Tracking Information

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Title

Retail Sales and Use Tax; increased from four percent to five percent, and distribution of revenues.

Sponsors


History

DateChamberAction
2012-02-14 House: Left in Finance
2012-01-25 House: Subcommittee recommends laying on the table by voice vote
2012-01-24 House: Assigned Finance sub: #2
2012-01-20 House: Referred to Committee on Finance
2012-01-20 House: Presented and ordered printed 12104108D

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
33123.03:11(n/a)See Bill Text
581603(n/a)See Bill Text
581604(n/a)See Bill Text
581604.1(n/a)See Bill Text
581614(n/a)See Bill Text
581638(n/a)See Bill Text
581639(n/a)See Bill Text

Virginia State Sources


Bill Comments

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