Chief Patron

Sen. Ken Stolle (R-8)

Ken Stolle (R-8)
Suite 700 Virginia Beach, VA
Served: 1992–

Status

06/23/2008: In Privileges and Elections Committee

View Entire History

Summary

Constitutional amendment (first resolution); establishment of special funds. Authorizes the General Assembly to establish one or more special funds for defined regional transportation needs and to dedicate a revenue stream to the fund. If the General Assembly establishes a special fund and dedicates to it revenues including any taxes or fees, the General Assembly must continue appropriating the dedicated revenues to the fund. However, by a four-fifths vote of the members voting in each house, any such special fund may be abolished, the purposes for which the fund is established may be changed, the revenue sources may be decreased, and the General Assembly may borrow from the fund for other purposes. Borrowed funds must be repaid to the fund within four years.