Effective July 1, 2008, of the state recordation taxes imposed pursuant to §§ 58.1-801 and 58.1-803, 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 § 58.1-638; and
2. The revenues collected from $ 0.01 of the total tax shall be deposited into the Highway Maintenance and Operating Fund established pursuant to § 33.2-1530.
History
2007, c. 896; 2013, c. 639.
