2004 Session

Budget Amendments - SB30 (Committee Approved)

View Budget Item
View Budget Item amendments

Transportation Trust Fund (language only)

Item 469 #3s

Item 469 #3s

Transportation, Secretary of

Page 350, after line 3, insert:
It is the intent of the General Assembly to continue and maintain as permanent and separate the Highway Maintenance and Operating Fund and the Transportation Trust Fund (the Fund or Funds). Deposits to either Fund shall include the revenues generated annually through the motor vehicle sales and use taxes, motor vehicle registration fees, and motor vehicle fuels taxes imposed pursuant to Chapters 11 and 15 of the Acts of Assembly, 1986 Special Session, and such other nongeneral fund revenues as the General Assembly may dedicate or appropriate to the Funds.   All interest, dividends, and appreciation accruing to each Fund shall be part of that Fund. Money in each Fund may be invested as authorized by law.

2. The General Assembly shall appropriate the Funds' proceeds of special or dedicated revenues only for purposes of constructing, improving, maintaining, and regulating traffic on the roads embraced in the systems of state highways and other transportation infrastructure for the Commonwealth and its political subdivisions and furthering the interests of the Commonwealth in the areas of highways, public transportation, railways, seaports, and airports and for the operations of state agencies related to transportation and for the direct costs incurred by other state agencies to support the issuance of debt, conduct studies required by state or federal law and collect revenues for transportation projects.

(This amendment sets out legislative intent to restrict use of the special fund revenues deposited to the Transportation Trust Fund or the Highway Maintenance and Operating Fund for transportation and transportation-related purposes only.)