Va. Transportation Infrastructure Fund and Va. Transportation Infrastructure Bank; created, report. (HB2527)
Introduced By
Del. Bill Howell (R-Fredericksburg)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
☐ |
Signed by Governor |
✓ |
Became Law |
Description
Transportaion funding. The bill creates the Virginia Transportation Infrastructure Fund (Fund) and the Virginia Transportation Infrastructure Bank (Bank) whose board of directors administers the Fund. The initial deposit into the Fund consists of general fund surplus and certain savings identified at the Virginia Department of Transportation. Up to 20 percent of the Fund may be used to make grants to localities for transportation projects as determined by the Bank, and the remainder is used to make loans to private or public entities for transportation projects as determined by the Bank.
The bill authorizes the issuance of Commonwealth of Virginia Transportation Grant Anticipation Revenue Notes whose outstanding aggregate principal amount, together with any outstanding aggregate principal amount of Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes, cannot exceed $1.2 billion, with the proceeds used for transportation projects as determined by the Commonwealth Transportation Board. The bill also increases the aggregate principal amount of Commonwealth of Virginia Transportation Capital Projects Revenue Bonds that may be issued in a fiscal year from $300 million to $600 million.
The bill establishes the Intercity Passenger Rail Operating and Capital Fund to be used by the Director of the Department of Rail and Public Transportation, with the approval of the Commonwealth Transportation Board, on projects that expand and improve intercity passenger rail service.
Finally, the bill removes the priority structure for allocation of revenue-sharing funds to localities; removes the $50 million total limit on funds allocated by the Commonwealth Transportation Board (CTB) to certain counties, cities, and towns in any one fiscal year and removes the $1 million per project cap on funds; and provides that the funds allocated by the CTB will be distributed in accordance with the revenue-sharing guidelines established by the CTB. Read the Bill »
Outcome
History
| Date | Action |
|---|---|
| 01/21/2011 | Presented and ordered printed 11103942D |
| 01/21/2011 | Referred to Committee on Appropriations |
| 01/21/2011 | Assigned App. sub: Transportation |
| 01/31/2011 | Subcommittee recommends reporting with amendment(s) (6-Y 1-N) |
| 01/31/2011 | Reported from Appropriations with substitute (17-Y 5-N) (see vote tally) |
| 01/31/2011 | Committee substitute printed 11104669D-H1 |
| 02/02/2011 | Read first time |
| 02/03/2011 | Read second time |
| 02/03/2011 | Committee substitute agreed to 11104669D-H1 |
| 02/03/2011 | Amendments by Delegate Watts rejected (39-Y 58-N) |
| 02/03/2011 | VOTE: REJECTED (39-Y 58-N) (see vote tally) |
| 02/03/2011 | Speaker ruled Amendment by Delegate Sickles not germane |
| 02/03/2011 | Amendment by Delegate Plum rejected (38-Y 59-N) |
| 02/03/2011 | VOTE: REJECTED (38-Y 59-N) (see vote tally) |
| 02/03/2011 | Pending question ordered |
| 02/03/2011 | Engrossed by House - committee substitute (62-Y 35-N) HB2527H1 |
| 02/03/2011 | VOTE: ENGROSSMENT (62-Y 35-N) (see vote tally) |
| 02/04/2011 | Read third time and passed House (65-Y 33-N) |
| 02/04/2011 | VOTE: PASSAGE (65-Y 33-N) (see vote tally) |
| 02/04/2011 | Impact statement from DPB (HB2527H1) |
| 02/07/2011 | Constitutional reading dispensed |
| 02/07/2011 | Referred to Committee on Finance |
| 02/15/2011 | Reported from Finance with substitute (11-Y 0-N) (see vote tally) |
| 02/15/2011 | Committee substitute printed 11105172D-S1 |
| 02/15/2011 | Reported from Finance with substitute (9-Y 2-N) (see vote tally) |
| 02/16/2011 | Impact statement from DPB (HB2527S1) |
| 02/16/2011 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 02/17/2011 | Read third time |
| 02/17/2011 | Reading of substitute waived |
| 02/17/2011 | Committee substitute agreed to 11105172D-S1 |
| 02/17/2011 | Engrossed by Senate - committee substitute HB2527S1 |
| 02/17/2011 | Passed Senate with substitute (32-Y 7-N) (see vote tally) |
| 02/18/2011 | Placed on Calendar |
| 02/21/2011 | Senate substitute rejected by House 11105172D-S1 (31-Y 68-N) |
| 02/21/2011 | VOTE: REJECTED (31-Y 68-N) (see vote tally) |
| 02/23/2011 | Senate insisted on substitute (40-Y 0-N) (see vote tally) |
| 02/23/2011 | Senate requested conference committee |
| 02/24/2011 | House acceded to request |
| 02/24/2011 | Conferees appointed by Senate |
| 02/24/2011 | Senators: Wampler, Colgan, Saslaw |
| 02/24/2011 | Conferees appointed by House |
| 02/24/2011 | Delegates: Oder, Jones, Howell, A.T. |
| 02/27/2011 | Conference substitute printed 11105666D-H2 |
| 02/27/2011 | Conference report agreed to by House (80-Y 16-N) |
| 02/27/2011 | VOTE: ADOPTION (80-Y 16-N) (see vote tally) |
| 02/27/2011 | Conference report agreed to by Senate (32-Y 7-N) (see vote tally) |
| 02/27/2011 | Reconsideration of conference report agreed to by Senate (40-Y 0-N) (see vote tally) |
| 02/27/2011 | Conference report agreed to by Senate (33-Y 7-N) (see vote tally) |
| 03/03/2011 | Enrolled |
| 03/03/2011 | Bill text as passed House and Senate (HB2527ER) |
| 03/03/2011 | Signed by Speaker |
| 03/06/2011 | Signed by President |
| 03/09/2011 | Impact statement from DPB (HB2527ER) |
| 03/26/2011 | Governor's recommendation received by House |
| 04/05/2011 | Placed on Calendar |
| 04/06/2011 | G Governor's recommendation adopted in-part |
| 04/06/2011 | House concurred in Governor's recommendation Amendments #1, 2 and 4 (80-Y 19-N) |
| 04/06/2011 | VOTE: ADOPTION (80-Y 19-N) (see vote tally) |
| 04/06/2011 | House concurred in Governor's recommendation Amendment #3 (65-Y 34-N) |
| 04/06/2011 | VOTE: ADOPTION (65-Y 34-N) (see vote tally) |
| 04/06/2011 | Senate concurred in Governor's recommendation (40-Y 0-N) (see vote tally) |
| 04/06/2011 | G Governor's recommendation adopted |
| 04/06/2011 | Reenrolled |
| 04/06/2011 | Reenrolled bill text (HB2527ER2) |
| 04/06/2011 | Signed by Speaker as reenrolled |
| 04/06/2011 | Signed by President as reenrolled |
| 04/06/2011 | Enacted, Chapter 830 (effective 7/1/11) |
| 04/06/2011 | G Acts of Assembly Chapter text (CHAP0830) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 31 clips in all, totaling 1 hour.
Comments
Track for Caucus