HB 1726

Abstract

Hampton Roads Regional Transit Program. Creates the Hampton Roads Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional (i) regional grantor's tax at a rate of $0.06 per $100 of the consideration for the conveyance and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy, both imposed in localities in the Hampton Roads Transportation District. The bill also dedicates $20 million of revenues from existing recordation taxes to funding the program. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. This bill is identical to SB 1038.

Transportation funding in the Hampton Roads region. Raises additional revenues for the Hampton Roads Transportation Fund by levying a regional grantors tax and a regional transient occupancy tax.  The bill provides that the new revenues generated shall be used operate a regional system of inter-jurisdictional, high-frequency bus service in the region.

Hampton Roads Regional Transit Program. Creates the Hampton Roads Regional Transit Program to develop, maintain, and improve a regional network of transit routes and related infrastructure, rolling stock, and support facilities. The program would be funded by an additional (i) regional grantor's tax at a rate of $0.06 per $100 of the consideration for the conveyance and (ii) regional transient occupancy tax at a rate of one percent of the charge for the occupancy, both imposed in localities in the Hampton Roads Transportation District. The bill also dedicates $20 million of revenues from existing recordation taxes to funding the program. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. The moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill. Use of the funds would require a two-thirds vote of the localities in which the new taxes were imposed. The bill also includes a local maintenance of effort of public transportation funding. This bill is identical to SB 1038.

Transportation funding in the Hampton Roadsregion. Raises additional revenues for the Hampton Roads TransportationFund by levying a regional grantors tax and a regional transientoccupancy tax, and a tax on transportation network providers of transportation for compensation originating or terminating in a locality in PlanningDistrict 23. The bill also the existing regional gas tax to 3.1 percentper gallon of gasoline or diesel fuel and indexes the tax rate annuallybeginning July 1, 2021. The bill establishes a tax on TransportationNetwork Providers, with allocation of the revenues to transit acrossthe Commonwealth. The bill provides that the new revenues generatedshall be used operate a regional system of inter-jurisdictional,high-frequency bus service in the region.