Rappahannock Area Transportation Authority; created, funding, Planning District 16.

The Authority will administer transportation funding generated through the imposition of (i) an additional regional 0.5 percent sales and use tax, (ii) an additional transportation improvement grantor's fee at a rate of $0.06 per $100 of the consideration for the conveyance, and (iii) a local transportation transient occupancy tax at a rate of one percent of the amount of the charge for the occupancy of any room or space occupied in any county or city in Planning District 16. The bill also increases the annual distribution of recordation tax revenues to cities and counties from $20 million to $55 million and dedicates $15 million of such annual distribution to the Rappahannock Area Transportation Fund, created by the bill.