The House of Delegates and Senate have agreed on a proposal to set a floor for regional gasoline taxes in Hampton Roads and Northern Virginia, generating about $67 million a year for transportation projects in the two regions.
The conference agreement would set the gas tax floor at the average wholesale price on Feb. 20, 2013, which was $3.17 a gallon. That already is the floor for a statewide gasoline tax the General Assembly adopted in 2013 as part of a comprehensive transportation funding package that included regional taxes in Hampton Roads and Northern Virginia.
The legislation inadvertently left out the price floor in the regions, which subsequently lost tax collections as gasoline prices fell below 2013 levels.
