2000 Session

Budget Amendments - HB29 (Member Request)

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Chief Patron: Rollison
MAGLEV at ODU (language only)

Item 514 #1h

Item 514 #1h

Transportation, Secretary of

Page 423, strike line 27 through line 58, and insert
"E. Out of Commonwealth Transportation funds or from unallocated transit funds made available by the 2000 Session of the General Assembly, the Commonwealth Transportation Board may allocate $7,000,000 to Old Dominion University for a transit project utilizing magnetic levitation technology, pursuant to a letter of agreement between the university and the proponents of magnetic levitation technology.  This grant shall be subject to the approval of the Commonwealth Transportation Board; however, the source of the funding shall not result in a disproportionate impact on the amounts available for financing other transportation or transit projects in any construction district.  Any allocation of state transportation funds shall require an equal amount of private matching funds.  For purposes of this project, Old Dominion University and any public bodies involved in the project shall be exempt from the capital appropriations process and the requirements of §2.1-504.2, Code of Virginia, and from state and local procurement requirements.  The terms of the grant shall provide for semi-annual reports to the Chairmen of the House Appropriations and Senate Finance Committees on the progress of the project, including an account of how funds have been expended to date and the project's spending plans for the next six months."

(This amendment authorizes the Commonwealth Transportation Board to allocate funds in support of a transit project at Old Dominion University utilizing magnetic levitation technology.)