2007 Session

Budget Amendments - HB1650 (Member Request)

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Chief Patron: Lingamfelter
State Matching Funds for Local Transp Expenditures (language only)

Item 443 #2h

Item 443 #2h

Transportation, Department of

Page 468, after line 55, insert:
"I.1. Out of the amounts available in this Item, up to $50.0 million in the second year from the Commonwealth Transportation Fund shall be dedicated to the program established pursuant to House Bill 2310, 2007 Session of the General Assembly.  
2.  The Commonwealth Transportation Board shall develop criteria and procedures governing eligibility for this fund and determining how to make allocations from it and transmit such procedures to the Chairmen of the House and Senate Transportation Committees by July 1, 2007."

(This amendment dedicates up to $50.0 million from existing nongeneral fund transportation resources to support the provisions of House Bill 2310, which provides for a match of the lesser of $25 million or 33 percent of the cost of a project to a locality that issues bonds for transportation purposes in that fiscal year. Funding shall be allocated by the Commonwealth Transportation Board, with preference being given to projects that relieve severe traffic congestion. The purpose of this program is to incentivize local governments to play a more active role in funding needed transportation improvements.)