2003 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Lingamfelter
Funding for VRE Railcars (language only)

Item 472 #3h

Item 472 #3h

Transportation, Secretary of

Page 443, line 19, after "projects.", insert:
"Beginning in the second year, such funds as shall be needed from the remaining Minimum Guarantee funds shall be allocated for the debt service costs of high capacity railcars to be purchased by the Virginia Railway Express.  Notes issued by the Virginia Railway Express for the purchase of these vehicles shall be for a period of ten years."

(This amendment directs the CTB to utilize a share of the available federal Minimum Guarantee Funds to finance the debt service costs for the purchase of high capacity railcars by VRE.)