2002 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Reynolds
Route 58 PPTA Proposal (language only)

Item 491 #2s

Item 491 #2s

Transportation, Department of

Page 353, after line 17, insert:
"M.  It is the intent of the General Assembly that the portion of the Route 58 Development Program from Stuart to Hillsville may be funded as a qualifying transportation facility pursuant to the Public-Private Transportation Act of 1995, Section 56-556 et seq., Code of Virginia.  Upon execution of a comprehensive agreement, the Department of Transportation is authorized to make contractual payments in consideration of the undertaking of the operator under the PPTA with respect to such project.  Any such payments, when and if required, may be made from any available transportation funding source.  It is the intent of the General Assembly to appropriate such funds as required to enable the Department of Transportation to make such contractual payments."

(This amendment provides General Assembly approval for the Route 58 Stuart to Hillsville PPTA proposal, including the potential to use tax-supported debt for the project without further General Assembly approval.)