HB546: Transportation safety funding; surplus in proposed budget to include.

HOUSE BILL NO. 546

Offered January 12, 2022
Prefiled January 11, 2022
A BILL to amend the Code of Virginia by adding a section numbered 2.2-1509.5 and by adding in Article 7 of Chapter 15 of Title 33.2 a section numbered 33.2-1533, relating to transportation safety funding.
Patron-- Roem

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 2.2-1509.5 and by adding in Article 7 of Chapter 15 of Title 33.2 a section numbered 33.2-1533 as follows:

§ 2.2-1509.5. Budget bill to include appropriation of surplus for transportation safety.

A. As used in this section, "surplus" means the amount, if any, by which actual general fund revenues exceed estimated general fund revenues for the fiscal year, minus required deposits, if any, to the Revenue Stabilization Fund pursuant to § 2.2-1829, the Revenue Reserve Fund pursuant to § 2.2-1831.2, and the Virginia Water Quality Improvement Fund pursuant to § 10.1-2128.

B. For any fiscal year in which there is a surplus, the Budget Bill shall include an appropriation of 10 percent of such surplus to the Transportation Safety Fund established pursuant to § 33.2-1533.

§ 33.2-1533. Transportation Safety Fund.

There is hereby created in the state treasury a special nonreverting fund to be known as the Transportation Safety Fund, referred to in this section as "the Fund." The Fund shall be established on the books of the Comptroller. All funds appropriated for such purpose pursuant to § 2.2-1509.5 and any gifts, donations, grants, bequests, and other funds received on its behalf shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes of funding projects that would improve transportation safety, implement safe system approach designs, improve high accident risk areas, and create safer options for pedestrians and bicyclists. The Secretary shall establish a process for soliciting, reviewing, and selecting such project submissions by local governing bodies. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Secretary.