SB 742 (Wagner)

Posted on March 11, 2016 in: 2016 General AssemblyFunding

Motor vehicle fuels sales tax in certain transportation districts. Changes the regional gas tax in Hampton Roads from a percentage to a cents per gallon tax that decreases as the price of gas increases. The regional gas tax in Hampton Roads would have a floor of $0.05 per gallon and a ceiling of $0.14 per gallon and would be determined on the basis of the average wholesale price of unleaded regular gasoline. The bill places a floor on the price of gasoline that the regional gas tax is imposed on in Northern Virginia that is identical to the floor used for the statewide gas tax and increases the regional gas tax in Northern Virginia from 2.1% to 3%.

Continued to 2017 in House Finance