This bill amends the local sales tax authorization for the city of Virginia, allowing the city to impose a sales and use tax of up to one percent, as approved by voters in the November 6, 2018 general election. The revenues from this tax are designated for the costs associated with the renovation and expansion of the Miner's Memorial recreation complex and convention center, as well as for additional projects related to the conversion of the city's steam system. These additional projects include the reconstruction of public infrastructure impacted by the steam system, the replacement of underground utilities, environmental remediation, and the removal of obsolete steam infrastructure.

The bill also outlines the bonding authority for the city, permitting the issuance of bonds up to $30 million to finance these projects, with the tax revenues serving as a potential source of repayment. The tax will expire when the city has collected $30 million or by December 31, 2055, whichever comes first. Any remaining funds after the completion of the projects will be allocated to the city's general fund. The effective date of this legislation is contingent upon compliance with specific statutory requirements by the city’s governing body.