Virginia House Bill 727 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 8 2008 - 25% progression, died in chamber
Action: 2008-02-12 - House: Left in Appropriations

Natural resources funding. Allocates annually to natural resources funding a percentage of the revenue generated by a one percent sales and use tax. The allocations would be as follows: (i) 5 percent of the revenue generated by a one percent sales and use tax for the 2008-2009 fiscal year; (ii) 7.5 percent for the 2009-2010 fiscal year; (iii) 10 percent for the 2010-2011 fiscal year; and (iv) 12.5 percent for the month of July 2011 and for each month thereafter but ending for the month of June 2018. The allocation for any fiscal year would not exceed $175 million. Of the sales tax allocation, one-third would be used to provide matching grants to the local purchase of development rights programs and two-thirds would be distributed to the Agricultural Best Management Practices Cost-Share Program for agricultural best management practices. For the moneys allocated to agricultural best management practices, five percent would be distributed to soil and water conservation districts to provide technical assistance for the implementation of agricultural best management practices. The remaining moneys would be used for matching grants for agricultural best management practices with 60 percent of the moneys used for lands exclusively in the Chesapeake Bay watershed and 40 percent of the moneys used for all other lands in the Commonwealth. For the moneys allocated to provide matching grants to local purchase of development rights programs, 60 percent of the moneys would be used for grants for local purchase of the development rights programs of counties and cities wholly or partly within the Chesapeake Bay watershed and 40 percent of the moneys would be used for grants for local purchase of the development rights programs of all other counties and cities. In general, for each $1 received, the local purchase of development rights program would be required to provide a $1 match.

Natural resources funding; allocates annually percentage of revenue generated by sales & use tax.

Del. Edward Scott [R]

Date	Chamber	Action
2008-02-12		House: Left in Appropriations
2008-01-15		House: Assigned App. sub: Economic Development, Agriculture and Natural Resources(Cox)
2008-01-08		House: Referred to Committee on Appropriations
2008-01-08		House: Prefiled and ordered printed; offered 01/09/08 082858716

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?081+sum+HB727