HB1158: Primary & secondary road projects; establishment & use of regional accounts by Transportation Board.


HOUSE BILL NO. 1158
AMENDMENT IN THE NATURE OF A SUBSTITUTE
(Proposed by the House Committee on Transportation
on February 11, 2010)
(Patron Prior to Substitute--Delegate Oder)
A BILL to amend the Code of Virginia by adding a section numbered 33.1-23.02:1, relating to establishment of regional accounts to be used by the Commonwealth Transportation Board for allocation of funds for specific primary and secondary road projects within the region wherein the revenue is generated.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 33.1-23.02:1 as follows:

? 33.1-23.02:1. Establishment and use of regional accounts by the Commonwealth Transportation Board for funding of specific primary and secondary road projects.

The Commonwealth Transportation Board shall establish a system of regional accounts, one for each highway construction district, whereby new transportation revenues not previously in existence generated on and after July 1, 2010 shall be deposited. New revenues, as heretofore provided for, shall be deposited into the accounts, based upon where the revenue was generated. The Commonwealth Transportation Board shall allocate from these regional accounts revenues necessary for the construction of specific primary and secondary road projects in each highway construction district. The system of allocations is intended to supplement and not replace other allocation formulas and procedures provided for in this chapter.

HOUSE BILL NO. 1158
Offered January 13, 2010
Prefiled January 13, 2010
A BILL to amend the Code of Virginia by adding a section numbered 33.1-23.02:1, relating to establishment of regional accounts to be used by the Commonwealth Transportation Board for allocation of funds for specific transportation projects within the region wherein the revenue is generated.
Patron-- Oder
Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 33.1-23.02:1 as follows:

§ 33.1-23.02:1. Establishment and use of regional accounts by the Commonwealth Transportation Board for funding of specific transportation projects.

The Commonwealth Transportation Board shall establish a system of regional accounts, whereby (i) new transportation revenues generated on and after July 1, 2010, and (ii) increased transportation revenues from sources established prior to July 1, 2010, but increased on or after that date shall be deposited. A separate account shall be established for each of the highway construction districts mentioned in § 33.1-2. New and increased revenues, as heretofore provided for, shall be established into the accounts, based upon where the revenue was generated. The Commonwealth Transportation Board shall allocate from these regional accounts revenues necessary for the construction of specific transportation projects in each highway construction district. The system of allocations is intended to supplement and not replace other allocation formulas and procedures provided for in this chapter.