(A) Sales tax. In addition to the sales tax authorized by § 33.001, there is hereby levied an additional general retail sales tax, at a rate of 1%, to provide revenue solely for the construction or renovation of schools.
(B) Use tax. In addition to the use tax authorized by VA Code § 58.1-606, there is hereby levied an additional use tax, at a rate of 1%, to provide revenue solely for the construction or renovation of schools.
(C) Collection. The additional general retail sales tax and additional use tax imposed pursuant to this section shall be administered and collected by the State Tax Commissioner in accordance with the provisions of VA Code §§ 58.1-605.1 and 58.1-606.1, as amended from time to time.
(D) Effective date. The additional sales tax and additional use tax shall become effective on the first day of the month, at least 120 days after the adoption of this section.
(E) Certification. A certified copy of this section shall be forwarded to the Tax Commissioner of the Commonwealth within five days of its enactment.
(F) Expiration. This additional sales tax shall expire January 15, 2040.
(Ord. passed 12-8-2020; Am. Ord. passed 12-8-2020)