HB 2487

Abstract

Additional local sales and use tax to support schools; use of funds. Authorizes Gloucester County to utilize the revenues from its additional one percent local sales and use tax for school capital projects for repayment of existing indebtedness incurred from school projects that were begun or completed prior to the imposition of the tax. The bill allows use of funds for prior indebtedness regardless of whether such use of funds was described in the referendum authorizing such tax. Such use of funds would require approval via ordinance passed by the county board of supervisors.

A BILL to amend and reenact §§ 58.1-605.1 and 58.1-606.1 of the Code of Virginia, relating to additional local sales and use tax to support schools; use of funds.