Bill Text: VA SB512 | 2022 | Regular Session | Prefiled
Bill Title: Cities and counties; distribution of recordation tax.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2022-02-01 - Incorporated by Finance and Appropriations [SB512 Detail]
Download: Virginia-2022-SB512-Prefiled.html
Be it enacted by the General Assembly of Virginia:
1. That §58.1-816, as it is currently effective and as it may become effective, of the Code of Virginia is amended and reenacted as follows:
§58.1-816. (Contingent expiration date) Distribution of recordation tax to cities and counties.
A. Effective October 1, 1993, $20 million of the taxes imposed under §§58.1-801 through 58.1-809 that are actually paid into the state treasury, shall be distributed among the counties and cities of the Commonwealth, except for counties and cities located in Planning District 8, in the manner provided in subsection B. Effective July 1, 1994, such annual distribution shall increase to $40 million. Effective July 1, 2020, such annual distribution shall be $20 million.
B. Subject to any transfer required under §58.1-816.1, (i) $20 million of the share of the state taxes
distributable under this section shall be
deposited annually into the fund established pursuant to §33.2-2600.1, and
(ii) the remaining amount of state taxes distributable under this section among the counties and
cities shall be apportioned and
distributed quarterly to each county or city, except
for those counties or cities located in a transportation district in Hampton
Roads created pursuant to §33.2-1903, by the Comptroller
by multiplying the amount to be distributed by a fraction in which the
numerator is the amount of the taxes imposed under §§58.1-801 through 58.1-809
and actually paid into the state treasury which are attributable to deeds and
other instruments recorded in the county or city and the denominator is the
amount of taxes imposed under §§58.1-801 through 58.1-809 actually paid into
the state treasury. All distributions pursuant to clause
(ii) this section
shall be made on a quarterly basis within 30 days of the end of the quarter.
Such quarterly distribution shall equal one quarter of the annual distribution
amount set forth in subsection A available after the
distribution required by clause (i). Each clerk of the
court shall certify to the Comptroller, within 15 days after the end of the
quarter, all amounts collected under §§58.1-801 through 58.1-809 and actually
paid into the state treasury which are attributable to deeds and other
instruments recorded in such county or city.
C. All moneys distributed
pursuant to clause (i) of subsection B shall be used in accordance with §33.2-
2600.1. All moneys distributed to counties and cities
pursuant to clause (ii) of subsection B
shall be used for (i) transportation purposes, including, without limitation,
construction, administration, operation, improvement, maintenance, and
financing of transportation facilities, or (ii) public education.
As used in this section, the term "transportation facilities" shall include all transportation-related facilities, including but not limited to all highway systems, public transportation or mass transit systems as defined in §33.2-100, airports as defined in §5.1-1, and port facilities as defined in §62.1-140. Such term shall be liberally construed for purposes of this section.
D. If any revenues distributed to a county or city under clause (ii) of subsection B C
are applied or expended for any transportation facilities under the control and
jurisdiction of any state agency, board, commission, or authority, such
transportation facilities shall be constructed, operated, administered,
improved, and maintained in accordance with laws, rules, regulations, policies,
and procedures governing such state agency, board, commission, or authority;
however, in the event that these revenues, or a portion thereof, are expended
for improving or constructing highways in a county that is subject to the
provisions of §33.2-338, such expenditures shall be undertaken in the manner
prescribed in that statute.
E. In the case of any distribution to a county or city in which an office sharing agreement pursuant to §§15.2-1637 and 15.2-3822 is in effect, the Comptroller shall divide the distribution among the office sharing counties and cities. Each clerk of the court acting pursuant to an office sharing agreement shall certify to the Comptroller, within 15 days after the end of the quarter, all amounts collected under §§58.1-801 through 58.1-809 and actually paid into the state treasury which are attributable to deeds and other instruments recorded on behalf of each county and city.
§58.1-816. (Contingent effective date) Distribution of recordation tax to cities and counties.
A. Effective October 1, 1993, $20 million of the taxes imposed
under §§58.1-801 through 58.1-809 that are actually paid into the state
treasury, shall be distributed among the counties and cities of the
Commonwealth, except for counties and cities located in
Planning District 8, in the manner provided in subsection
B. Effective July 1, 1994, such annual distribution shall increase to $40
million. Effective July 1, 2020, such annual distribution shall be $20 million.
B. Subject to any transfer required under §58.1-816.1, the
share of the state taxes distributable under this section among the counties
and cities shall be apportioned and distributed quarterly to each county or
city by the Comptroller by multiplying the amount to be distributed by a
fraction in which the numerator is the amount of the taxes imposed under §§
58.1-801 through 58.1-809 and actually paid into the state treasury which are
attributable to deeds and other instruments recorded in the county or city and
the denominator is the amount of taxes imposed under §§58.1-801 through
58.1-809 actually paid into the state treasury. All distributions pursuant to
this section shall be made on a quarterly basis within 30 days of the end of
the quarter. Such quarterly distribution shall equal $10
million one quarter of the annual
distribution amount set forth in subsection A. Each
clerk of the court shall certify to the Comptroller, within 15 days after the
end of the quarter, all amounts collected under §§58.1-801 through 58.1-809
and actually paid into the state treasury which are attributable to deeds and
other instruments recorded in such county or city.
C. All moneys distributed to counties and cities pursuant to this section shall be used for (i) transportation purposes, including, without limitation, construction, administration, operation, improvement, maintenance and financing of transportation facilities, or (ii) public education.
As used in this section, the term "transportation facilities" shall include all transportation-related facilities including, but not limited to, all highway systems, public transportation or mass transit systems as defined in §33.2-100, airports as defined in §5.1-1, and port facilities as defined in §62.1-140. Such term shall be liberally construed for purposes of this section.
D. If any revenues distributed to a county or city under subsection C are applied or expended for any transportation facilities under the control and jurisdiction of any state agency, board, commission or authority, such transportation facilities shall be constructed, operated, administered, improved and maintained in accordance with laws, rules, regulations, policies and procedures governing such state agency, board, commission or authority; however, in the event these revenues, or a portion thereof, are expended for improving or constructing highways in a county which is subject to the provisions of §33.2-338, such expenditures shall be undertaken in the manner prescribed in that statute.
E. In the case of any distribution to a county or city in which an office sharing agreement pursuant to §§15.2-1637 and 15.2-3822 is in effect, the Comptroller shall divide the distribution among the office sharing counties and cities. Each clerk of the court acting pursuant to an office sharing agreement shall certify to the Comptroller, within 15 days after the end of the quarter, all amounts collected under §§58.1-801 through 58.1-809 and actually paid into the state treasury which are attributable to deeds and other instruments recorded on behalf of each county and city.
