SB 743
Adjusting percentage of tax retained by clerk of county commission for certain purposes
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill adjusts the percentage of tax revenue retained by county clerks for various purposes. Starting in 2021, 10% of excise tax collections will be retained by the county. This percentage increases annually, reaching 65% in 2024 and then 80% in 2025. The retained funds are to be used for county purposes, election administration improvements, and infrastructure related to the Uniform Real Property Electronic Recording Act. The bill also clarifies the use of funds and establishes standards for election administration and security.
Key provisions
- Increases the percentage of excise tax retained by county clerks annually, rising to 65% in 2024 and 80% in 2025.
- Specifies how the retained funds must be allocated: 20% to the county general fund, 5% to election administration/infrastructure, and 5% to infrastructure for electronic recording.
- Establishes minimum standards for election administration, infrastructure, and security, to be determined by the Secretary of State.
- Allows county clerks to transfer funds within designated accounts.
- Requires counties to publish a notice of intent to increase excise tax rates.
- Defines the types of expenses the clerk can use funds for, including securing infrastructure.
- Specifies how funds are to be used for election administration, infrastructure, and security.
- Details the process for counties to meet minimum reserve funding requirements.
Who is affected
- County Clerks
- County Commissions
- Real Estate Owners
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