2002 Session

Budget Amendments - HB30 (Committee Approved)

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Route 58 PPTA (language only)

Item 491 #3h

Item 491 #3h

Transportation, Department of

Page 349, after line 12 insert:
"5.  Consideration by the Department of Transportation of a proposal submitted under the Public-Private Transportation Act of 1995 for the design and construction of improvements in that portion of the Route 58 Development Program from Stuart to Hillsville to be financed by a service agreement with the Department is hereby approved.  Any comprehensive agreement which is negotiated by the Department shall be conditioned upon review and approval of the terms and conditions of the financing pursuant to § 2.2-2614, Code of Virginia, by the Treasury Board, and approval of the comprehensive agreement by the Commonwealth Transportation Board after consultation with the Treasury Board and notification to the Chairmen of the House Appropriations and Senate Finance Committees.  Any payments within such an agreement, when and if required, may be made from funds made available from the Route 58 Corridor Development Program, and from funds
specifically allocated to the Salem Highway Construction District, including Priority Transportation Funds and Federal Revenue Anticipation Notes."
Page 349, line 13, strike "5" and insert "6".

(This amendment allows VDOT to consider a PPTA proposal to construct the Stuart to Hillsville portion of the Route 58 corridor and permits the use of Route 58 Corridor Development Program Funds and funds for the Salem Highway Construction District, including PTF and FRAN funds.)