Transit funding; raises the existing regional transportation fee, etc.

Transit funding. Raises the existing regional transportation fee, a grantor's tax, from $0.15 per $100 to $0.20per $100 for localities in the Northern Virginia Transportation Authoritythat are also members of the Northern Virginia Transportation District.The bill requires half of the revenues to be deposited in the NorthernVirginia Transportation Authority Fund and half to be deposited inthe Washington Metropolitan Area Transit Authority (WMATA) CapitalFund. The rate of tax in the other localities will remain at $0.15per $100, with one-third of the revenues to be retained by the locality to be used for transportation purposes and the other two-thirds tobe deposited in the Northern Virginia Transportation District Fund.The bill also raises the existing transient occupancy tax in thelocalities located in the Northern Virginia Transportation Districtfrom $2 to $3, with all of the revenues from the tax being used tosupport WMATA.