SB 1038

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 HB 1726.

Hampton Roads Transportation District Regional Transit Program. Creates the Hampton Roads Transportation District 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 $0.15 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 moneys would be deposited into the Hampton Roads Regional Transit Fund, created by the bill.

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. 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 HB 1726.

Hampton Roads Transportation District RegionalTransit Program. Creates the Hampton Roads Transportation District Regional Transit Program to develop, maintain, and improve a regionalnetwork of transit routes and related infrastructure, rolling stock,and support facilities. The program would be funded by an additionalregional motor vehicle fuels sales tax at a rate of 1.9 percent ofthe wholesale cost of unleaded gasoline and 0.9 percent of the wholesalecost of diesel fuel. The moneys would be deposited into the HamptonRoads Regional Transit Fund, created by the bill.