1999 Session

Budget Amendments - SB800 (Member Request)

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Maglev for Virginia Beach (language only)

Item 514 #3s

Item 514 #3s

Transportation, Secretary of

Page 400, strike lines 37-62, and Page 401 Strike lines 1-7.
Page 400 line 37, insert:
"E. The Secretary of Transportation is authorized to negotiate a lawful memorandum of understanding agreement with proponents of magnetic levitation technology and other parties including a local government or a local transportation authority that could result in a financing agreement for a magnetic levitation research demonstration project which will be placed into passenger/revenue service.  Any allocation or loan of state transportation funds by the Commonwealth Transportation Board for a demonstration project shall not exceed $7,000,000, and shall require an equal amount of private matching funds.  Any memorandum of understanding would require approval by the Board, and require that funds advanced for the demonstration project

(This amendment is self-explanatory.)