Virginia HB 948: Virginia Housing Trust Fund; revenue deposits.

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2018 SESSION

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18101614D

HOUSE BILL NO. 948 

Offered January 10, 2018 

Prefiled January 9, 2018 

A BILL to amend the Code of Virginia by adding in Chapter 8 of 
 Title 58.1 a section numbered 58.1-818, relating to Virginia Housing Trust 
 Fund; revenue deposits. 
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Patron-- Lopez 

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Referred to Committee on Finance 

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Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Chapter 
 8 of Title 58.1 a section numbered 58.1-818 as follows: 

� 58.1-818. Deposit of 
 certain recordation tax revenues to the Virginia Housing Trust Fund.

No later than September 1 
 of each fiscal year immediately following a fiscal year in which the total 
 revenue generated by the state taxes imposed 
 pursuant to this 
 chapter, except those imposed pursuant to �� 58.1-802.2 
 and 58.1-817, that was 
 deposited into the state treasury exceeded 
 $325 million, there shall be 
 transferred to the Virginia Housing Trust Fund established under � 36-142 
 an amount equal to 20 percent of the excess revenue.