Virginia Senate Bill 1340 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 18 2013 - 25% progression, died in committee
Action: 2013-02-06 - Left in Finance
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Introduced) [HTML]

Revenues and appropriations of the Commonwealth. Makes several changes to the revenues and appropriations of the Commonwealth, specifically relating to transportation funding, as follows: The bill raises the state sales and use tax rate from four percent to five percent. Of these new revenues, an amount equal to a one-half percent sales and use tax will be deposited in the Transportation Trust Fund, and the percentage of the Transportation Trust Fund sales and use tax revenues dedicated to mass transit will be raised to 25%. Of the other one-half percent of the new one percent sales and use tax, two-thirds will be distributed to localities to use for education, and one-third will be used to fund higher education in the Commonwealth. In fiscal years 2014, 2015, 2016, and 2017, $80 million dollars each year that would otherwise be distributed to the Transportation Trust Fund will be designated to the Phase II Dulles Corridor Metrorail Extension Project, subject to certain conditions. The bill raises the cents-per-gallon rate of the tax on motor fuels by five cents on July 1, 2013, and July 1, 2014, and then begins indexing the cents-per-gallon rate on July 1, 2015. The bill makes additional technical changes.

Revenues and appropriations of State; changes specifically relating to transportation funding.

Sen. Janet Howell [D]

Sen. Richard Saslaw [D]

Date	Chamber	Action
2013-02-06	Senate	Left in Finance
2013-01-18	Senate	Referred to Committee on Finance
2013-01-18	Senate	Presented and ordered printed 13103806D

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?131+sum+SB1340
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?131+ful+SB1340+hil