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Code of Virginia (Last Updated:July 28, 2020) |
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TITLE 58.1. Taxation |
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SUBTITLE I. Taxes Administered By the Department of Taxation |
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CHAPTER 8. State Recordation Tax |
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SECTION 58.1-815.4. (Contingent expiration dates — see notes) Distribution of recordation tax for certain transportation-related purposes |
SECTION 58.1-815.4. (Contingent expiration dates — see notes) Distribution of recordation tax for certain transportation-related purposes
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Of the state recordation taxes imposed pursuant to §§ 58.1-801 and 58.1-801 , the revenues collected each fiscal year from $0.03 of the total tax imposed under each section shall be deposited by the Comptroller as follows: 1. The revenues collected from $0.02 of the total tax shall be deposited into the Commonwealth Mass Transit Fund pursuant to subdivision A 4 b (1)(b) of § 58.1-801 ; and 2. The revenues collected from $0.01 of the total tax shall be deposited into the Commonwealth Transit Capital Fund established pursuant to subdivision A 4 c of § 58.1-801 . |