Chief Patron: Marshall R.
Direct Additional GF Revenues to Transportation (language only)

Item 456.10 #1h

Language
Page 486, after line 42, insert:
"A.  No additional general fund dollars above those included in the Official Revenue Estimate included in Chapter 10, Special Session 1 of the 2006 General Assembly shall be provided in any item of this act with the exception of any general fund deposit required for the Revenue Stabilization Fund pursuant to Article X, Section 8 of the Constitution of Virginia, any general fund deposit required for the Water Quality Improvement Fund pursuant to § 10.1-2128.
B. Additional general fund revenue collections above that which was assumed in Chapter 10, Special Session 1 of the 2006 General Assembly, estimated at $332,984,265 the first year and $188,822,133 the second year shall be transferred to this Item for allocation as follows:  the first $135,000,000 shall be allocated by the Director, Department of Planning and Budget to cost overruns on previously approved capital outlay projects within higher education; and the remainder, estimated at $197,984,265 the first year and $188,822,133 the second year shall be transferred to Item 443 and be used for highway system acquisition and construction projects."

Explanation
(This amendment directs all general fund revenues not anticipated when Chapter 3/10 was adopted by the 2006 Session of the General Assembly to transportation and capital outlay cost overruns. These amounts total $521.8 million of which $135 million would be used for capital outlay and $386.8 million for transportation.)