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Item 260 #1c

Finance
FY 06-07
FY 07-08
Department Of Accounts Transfer Payments
$0
$63,658,954
NGF

Language:
Page 102, line 2, strike "$54,530,000" and insert "$118,188,954".
Page 102, line 2, strike "Not set out." and insert:
"Financial Assistance to Localities - General (72800)
a sum sufficient, estimated at.
D. There is hereby appropriated for payment to the Northern Virginia Transportation Commission and the Potomac Rappahannock Transportation Commission a sum sufficient amount of nongeneral fund revenues estimated at $63,658,954 in the second year equal to the revenues collected pursuant to §
58.1-1720 et seq., Code of Virginia, from the
additional sales tax on fuel in certain transportation district
s under § 58.1-1720 et seq., Code of Virginia.

Such funds shall be returned to the respective Commissions in amounts equivalent to the shares collected in the respective member jurisdictions."

Explanation:
(This amendment appropriates the revenues generated by the additional two percent sales tax on gasoline that has been in effect since 1984. This state-imposed tax has been consistently used, as intended, to support transportation improvements in the member jurisdictions but has not been accompanied by an express appropriation in the Appropriation Act. Because this item is not set out in House Bill 29 as introduced, it will be placed in its proper format upon enrolling.)

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