2003 Session

Budget Amendments - HB1400 (Committee Approved)

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FRAN Debt Service (language only)

Item 491 #2h

Item 491 #2h

Transportation, Department of

Page 461, line 33, after "2000.", insert:
"Additionally, notwithstanding Enactment 6 of Chapters 1019 and 1044, Acts of Assembly of 2000, out of the amounts provided for this item in the second year, an amount equivalent to the debt service payment requirements on the Federal Highway Reimbursement Anticipation Notes, exclusive of general funds provided for that same purpose, shall be set aside from the highway portion of the Transportation Trust Fund prior to making the formula allocations required by § 33.1-23.1 B for budgetary accounting purposes."

(This amendment directs VDOT to allocate any transportation funds required to support debt service on FRANs issued in support of VTA projects "off-the-top" prior to allocations to the primary, secondary and urban systems.)