HJ80: Constitutional amendment; Transportation Funds (first reference).

Chief Patron

Del. Sal Iaquinto (R-84)

Sal Iaquinto (R-84)
Virginia Beach, VA
Served: 2006–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate

Status

01/10/2006: In Privileges and Elections Committee

View Entire History

Summary

Constitutional amendment (first resolution); Transportation Funds.  Requires the General Assembly to maintain permanent and separate Transportation Funds to include the Commonwealth Transportation Fund, Transportation Trust Fund, and Highway Maintenance and Operating Fund. All revenues dedicated to Transportation Funds on January 1, 2006, by general law, other than a general appropriation law, shall be deposited to the Transportation Funds, unless the General Assembly by general law, other than a general appropriation law, alters the revenues dedicated to the Funds. The amendment limits the use of Fund moneys to transportation and related purposes. The General Assembly may borrow from the Funds for other purposes only by a vote of two-thirds plus one of the members voting in each house, and the loan or reduction must be repaid with reasonable interest within four years. This proposed constitutional amendment is identical to the amendment proposed in SJR 58.   View Full Text »