Omnibus Funding Amendment

Item 449.10 #1h

Language
Page 478, line 33, strike "$500,000,000" and insert "$566,000,000".
Page 478, strike lines 36 through 54 and insert:
"A. Included in this item is $566,000,000 the first year from the general fund to be used to implement the following transportation initatives:
1.  $339,000,000 shall be transferred to the Transportation Partnership Opportunity Fund to advance the construction of critical highway, rail, and port projects. Notwithstanding the limitations of subsections A and E of § 33.1-221.1:8, Code of Virginia, the Governor shall provide sufficient grants and loans to advance critical highway, rail, and port projects constructed pursuant to § 33.1-12, Chapter 22 (§ 56-556 et seq.) of Title 55.6, or § 62.1-132.6, Code of Virginia.  At the discretion of the Governor, up to $65,000,000 may be transferred from the Transportation Partnership Opportunity Fund to the Rail Enhancement Fund and $15,000,000 from the Transportation Partnership Opportunity Fund to the Commonwealth Port Fund, provided that the Governor notifies the Chairmen of the Senate Finance and House Appropriations Committees in writing at least 30 days in advance of the transfer.
2.  $227,000,000 in the first year from the general fund, representing a portion of the revenues in excess of the official revenue forecast in the appropriation act enacted by the 2006 Special Session I of the General Assembly, shall be dedicated to transportation as follows:
a. $64,000,000 shall be deposited into the Transportation Trust Fund, and distributed pursuant to the provisions of § 33.1-23.03:2, Code of Virginia, and
b. $163,000,000 shall be deposited into the Commonwealth Transportation Capital Projects Debt Service Fund established under § 58.1-2532, Code of Virginia, which shall be used to pay a portion of the debt services costs attributable to any notes issued by the Commonwealth Transportation Board pursuant to legislation adopted by the 2007 Session of the General Assembly. 
B. Notwithstanding the provisions of § 4-1.03 of this act, the Director, Department of Planning and Budget, is authorized and directed to increase the nongeneral fund appropriations for the agencies within the Transportation Secretariat to allow for the expenditure of amounts dedicated to the respective transportation agencies under provisions of any legislation adopted by the 2007 Session of General Assembly.  Such amounts shall be distributed in accordance with the provisions of Title 33.1, Code of Virginia, in such amounts so established to support highway construction, mass transit, airport and port improvements."
Page 479, strike lines 1 through line 31.

Explanation
(This amendment appropriates $566.0 million from the general fund for transportation in the first year and authorizes the Director of the Department of Planning and Budget to increase the nongeneral fund appropriations of the transportation agencies to allow for the expenditure of any other funds provided to the transportation agencies pursuant to legislation adopted by the 2007 General Assembly.)