Plain English Breakdown
The official text does not provide details on how much money will be in the relief fund or if other groups besides Virginia Realtors can use this program.
Special License Plates for Virginia REALTORS
This law changes an existing special license plate program for members of the Virginia Realtors to a revenue-sharing program that benefits a disaster relief fund.
What This Bill Does
- Changes the existing non-revenue sharing special license plate program for Virginia Realtors to a revenue-sharing program.
- Establishes the Virginia REALTORS Disaster Relief Fund, which receives $15 from each fee collected over 1,000 registrations and is used to provide financial assistance in locations affected by natural or man-made disasters.
Who It Names or Affects
- Members of the Virginia Realtors who want special license plates.
- People and businesses affected by disasters in Virginia who receive financial help from the new fund.
Terms To Know
- Revenue Sharing
- When money collected is shared between different groups or funds.
- Disaster Relief Fund
- A special fund used to help people and businesses after disasters like hurricanes, floods, or fires.
Limits and Unknowns
- The law does not specify how much money will be in the relief fund.
- It is unclear if other groups besides Virginia Realtors can use this program.