2001 Session

Budget Amendments - HB1600 (Member Request)

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Chief Patron: Ware
Study of RMA Debt and Transfer of Ownership (language only)

Item 506 #3h

Item 506 #3h

Transportation, Secretary of

Page 447, after line 3, insert:
"H.  Pursuant to the Joint Legislative Audit and Review Commission 2000 report of the Richmond Metropolitan  Authority and Powhite Parkway Extension Toll Facility Operations, the Secretary of Transportation shall establish a task force to examine and resolve the legal matters necessary to transfer ownership of the Downtown Expressway and the Powhite Parkway to the Virginia Department of Transportation.  The task force also shall examine ways to retire subordinate debt on the facilities without adversely affecting the retirement of senior debt.  Serving with the Secretary of Transportation shall be representatives of the Richmond Metropolitan Authority, the Virginia Department of Transportation, the Department of Treasury, and the Office of the Attorney General.  All other agencies of the Commonwealth shall cooperate as appropriate.  By November 1, 2001, the Secretary of Transportation shall report the findings of the task force to the Governor and the Chairmen of the House Appropriations Committee and the Senate Finance Committee."

(This amendment is self-explanatory.)