2002 Session

Budget Amendments - HB29 (Conference Report)

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FRAN Flexibility and Increased Cap (language only)

Item 525 #1c

Item 525 #1c

Transportation, Department of

Page 419, line 11, strike "1."
Page 419, line 13, after "include," insert:
"$317,000,000 in projects listed in the Virginia Transportation Development Plan as adopted for fiscal year 2003 and as funded pursuant to § 33.1-23.1 B with secondary system projects identified in the counties' lists prepared pursuant to § 33.1-70.01, Code of Virginia; projects listed in Enactment 4 § 6 of such Chapters; and projects listed in the statewide new transit vehicle and equipment program as specified in Enactment 4 §1 of such Chapters and listed in the Virginia Transportation Development Plan adopted by the Commonwealth Transportation Board on December 18, 2001,".
Page 419, strike lines 14 through 16.
Page 419, line 17, strike "time".
Page 419, line 22, strike "1,000,000,000." and insert "$1,200,000,000".
Page 419, strike lines 27 through 33.

(This amendment provides flexibility in the use of FRAN proceeds to replace the transfer of $317 million in fiscal year 2003 highway construction projects funding as included in House Bill 30 of the 2002 General Aseembly Session and to expand the use of FRANs for other highway construction and mass transit projects listed in the VTA. The modification to the Virginia Transportation Act is included in House Bill 29 to ensure that sufficient time is available to issue the debt.)