Friday, September 5, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB2310: Transportation projects, local; state funding for portions thereof.
Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 33.1-23.06 as follows:
§ 33.1-23.06. Matching funds for certain local transportation projects.
A. From annual allocations of state funds for the maintenance, improvement, construction, or reconstruction of the systems of state highways, the Commonwealth Transportation Board shall make an allocation to any county, city, or town for use by the county, city, or town to construct, maintain, or improve the highway systems within such county, city, or town, not to exceed the lesser of $25 million or 33% of the cost of the project, provided that (i) the locality has issued or will issue bonds for transportation purposes in the fiscal year in which the allocation is sought in an amount that exceeds the amount of the state allocation; (ii) the locality has sufficient matching funds to complete the project; and (iii) the transportation project for which the allocation is sought is determined by the Commonwealth Transportation Board, compared with other requests for such allocations, to be more likely to relieve severe traffic congestion, according to criteria and procedures for making application for funds that shall be developed by the Commonwealth Transportation Board. One half of the state allocation to a locality shall be paid when the applicable project is 50% completed and the remainder shall be paid when the applicable project is finished.
B. Total state funds allocated by the Board under this section shall not exceed $50 million in any one fiscal year.
2. That no moneys distributed pursuant to this act shall be used to calculate or reduce the share of federal, state, or local revenues or funds for any purpose that otherwise would be available to the localities.
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.