Sunday, September 7, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB1700: Defense Facility and Transportation Improvement Fund and Program; created.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding sections numbered 33.1-221.1:9 and 58.1-815.4 as follows:
§ 33.1-221.1:9. Virginia Defense Facility and Transportation Improvement Program.
In addition to any other funds allocated or allocable to highway construction districts, the Commonwealth Transportation Board shall allocate funds from the Defense Facility and Transportation Improvement Program Fund established as provided in § 58.1-815.4 to highway construction districts within which federal defense facilities or bases are affected as the result of actions of the Base Realignment and Closure Commission.
Such allocation shall be used to:
1. Expand transportation infrastructure in the vicinity of such federal defense facilities or bases;
2. Construct, reconstruct, or improve highways used as major commuter routes by persons employed or stationed at or near such federal defense facilities or bases;
3. Construct, reconstruct, expand, or improve commuter parking facilities in order to encourage car pooling and use of mass transit by persons employed or stationed at or near such federal defense facilities or bases; and
4. Expand or improve mass transit programs and facilities used or usable by persons employed or stationed at or near such federal defense facilities or bases.
No funds shall be allocated pursuant to this section unless an equal amount of matching funds are appropriated for the particular project by the locality or localities in which the project is located.
The provisions of this section shall expire on July 1, 2011.
§ 58.1-815.4. Defense Facility and Transportation Improvement Program Fund.
There is hereby created in the Department of the Treasury a special nonreverting fund, which shall be a part of the Transportation Trust Fund and which shall be known as the Defense Facility and Transportation Improvement Program Fund, consisting of $36 million of annual collections of the state recordation taxes imposed by this chapter. This dedication shall not affect the local recordation taxes under subsection B of § 58.1-802 and § 58.1-814. The Fund shall also include such other funds as may be appropriated by the General Assembly from time to time, and designated for this Fund and all interest, dividends, and appreciation that may accrue thereto. Any moneys remaining in the Fund at the end of a biennium shall not revert to the General Fund, but shall remain in the Fund. Allocations from this Fund may be made by the Commonwealth Transportation Board as provided in § 33.1-221.1:9.
The provisions of this section shall expire on July 1, 2011.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.