Virginia HB334 proposes a local sales tax to fund school construction and renovation projects.
HB334 authorizes localities in Virginia to impose a one percent local sales tax, subject to voter approval in a referendum. The tax revenue will be used exclusively for capital projects related to the construction or renovation of schools, including financing costs. The tax applies to sales within the locality and to out-of-state purchases intended for use within the locality. The tax will expire when the financed projects are completed or on a specified date if not financed by bonds or loans.
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