Item 438 | First Year - FY2007 | Second Year - FY2008 |
|---|---|---|
| Financial Assistance for Rail Programs (61000) | $36,400,000 | $27,900,000 |
| Rail Preservation Programs (61002) | FY2007 $3,000,000 | FY2008 $3,000,000 |
| Rail Enhancement Programs (61003) | FY2007 $33,400,000 | FY2008 $24,900,000 |
| Fund Sources: | ||
| General | FY2007 $9,000,000 | FY2008 $0 |
| Commonwealth Transportation | FY2007 $27,400,000 | FY2008 $27,900,000 |
Authority: Title 33.1, Code of Virginia.
A. The Commonwealth Transportation Board shall operate a program entitled the Shortline Rail Preservation Program. Using transportation revenues generally available to the Board, funds shall be appropriated as determined by the Board to designated transportation projects in addition to funds allocated pursuant to § 33.1-23.1, Code of Virginia. Total Shortline Rail Preservation funding shall not exceed $3,000,000 the first year and $3,000,000 the second year. For the purpose of this section and program, a shortline railroad is any Class II or Class III railroad as defined by the Surface Transportation Board. Projects undertaken by the Board pursuant to this section shall be to acquire, lease, improve, or assist other appropriate entities to acquire, lease, or improve shortline railways for freight and passenger rail transportation purposes which the Board determines are for the common good of the Commonwealth or any region of the Commonwealth.
B. The Commonwealth Transportation Board shall operate a program entitled the Rail Enhancement Program and allocate funds as provided in § 58.1-2425 and § 33.1-221.1:1.1, Code of Virginia. Included in this Item is $9,000,000 from the general fund in the first year designated for an Intermodal facility, and associated safety and road improvements, in the Rt. 460 Corridor to create transportation access to further promote and expand the economic opportunities created by port facilities located within the Commonwealth.