1997 Session

Budget Amendments - HB1600 (Committee Approved)

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Coleman Bridge Tolls (language only)

Item 496 #2h

Item 496 #2h

Transportation, Secretary of

Page 329, after line 49, insert:
"C.  As a condition of the appropriation for this item, the Commonwealth Transportation Board shall grant relief in fiscal year 1998 from tolls charged vehicles with three and more axles for use of the Coleman Bridge.  Consistent with the covenants of the Series 1994, Commonwealth of Virginia Transportation Facilities Bonds, and consistent with the Governor's certification thereof, the toll schedule approved by the Commonwealth Transportation Board on May 18, 1995, shall not be reduced to effect this relief.   Rather, the drivers of vehicles with three and more axles shall contribute 50 percent of the tolls the Board establishes for such vehicles, and, consistent with § 33.1-23.03:4., Code of Virginia, interest earnings accruing to the Transportation Trust Fund shall contribute the remaining 50 percent of the tolls.  The automobile commuter toll of 50 cents for a round trip shall be retained in fiscal year 1998, and, with the exception of this constraint, the Board shall ensure that revenues from Coleman Bridge tolls are sufficient to prevent any shortfall in payment obligations to bond holders."

(This amendment would provide about $826,000 in nongeneral funds in fiscal year 1998 to cost-share with users half of the tolls charged vehicles with three and more axles for their round trip usage of the Coleman Bridge, effective July 1, 1997. The tolls currently are $6 for three axle vehicles and $8 for four and more axle vehicles. The source of funds for the $826,000 is interest earnings on the Transportation Trust Fund.)