VACo spoke in support of SB 105 (Locke) in yesterday’s Senate Finance Committee meeting. The bill provides that 20 percent of annual recordation tax revenue in excess of $325 million shall be deposited into the Virginia Housing Trust Fund. The bill is a recommendation of the Virginia Housing Commission. The committee voted to carry the bill over to the 2017 General Assembly Session in order to further study the implications.
VACo Contact: Beau Blevins