Transportation Capital Projects Revenue Bonds; used for new road or highway construction projects. (SB541)

Introduced By

Sen. Steve Newman (R-Forest) with support from co-patrons Sen. Steve Martin (R-Chesterfield), Sen. Jeff McWaters (R-Virginia Beach), Sen. Jill Holtzman Vogel (R-Winchester), and Sen. Frank Wagner (R-Virginia Beach)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Commonwealth of Virginia Transportation Capital Projects Revenue Bonds.  Provides that at least 50 percent of the proceeds of Commonwealth of Virginia Transportation Capital Projects Revenue Bonds would be used for new road or highway construction projects. The bill defines a new road or highway construction project as the construction of, enhancement of, or addition to a road or highway (or a portion or segment of a road or highway), which construction, enhancement, or addition did not commence prior to January 1, 2010. Commonwealth of Virginia Transportation Capital Projects Revenue Bonds were authorized for issuance in 2007 pursuant to House Bill No. 3202. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/13/2010Prefiled and ordered printed; offered 01/13/10 10102264D
01/13/2010Referred to Committee on Finance
02/08/2010Impact statement from DPB (SB541)
02/16/2010Left in Finance