449#4h (DRPT) VRE Insurance Trust Fund. HB30 - Member Request

State Budget

2008 Session

Budget Amendments - HB30 (Member Request)

By Member » Item 449 #4h

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Chief Patron: May
VRE Insurance Trust Fund

Item 449 #4h

Item 449 #4h	First Year - FY2009	Second Year - FY2010
Transportation
Rail and Public Transportation, Department of	FY2009 $2,500,000	FY2010 $0	GF

Language
Page 399, line 1, strike "$274,607,254" and insert "$277,107,254".
Page 400, after line 42, insert:
"F. Included in this item is $2,500,000 the first year from the general fund for the Virginia Railway Express to assist in the development of an Insurance Trust Fund pursuant to the requirements of the Virginia Division of Risk Management."

Explanation
(This amendment provides $2.5 million the first year from the general fund to match Virginia Railway Express (VRE) contributions toward the creation of an Insurance Trust Fund for VRE based on the requirements of the Virginia Division of Risk Management. The VRE has been asked to maintain a fund balance of $10.0 million. It has made contributions toward this fund of $750,000 in fiscal year 2006 and $1.0 million in fiscal year 2007 to accomplish this task, and will commit another $2.0 million in fiscal year 2008 to meet this goal.)

Item 449

Item 449	First Year - FY2009	Second Year - FY2010
Financial Assistance for Public Transportation (60900)	$274,607,254	$283,802,597
Public Transportation Programs (60901)	FY2009 $264,236,159	FY2010 $273,283,554
Congestion Management Programs (60902)	FY2009 $5,344,000	FY2010 $5,344,000
Human Service Transportation Programs (60903)	FY2009 $5,027,095	FY2010 $5,175,043
Fund Sources:
Special	FY2009 $674,060	FY2010 $697,652
Commonwealth Transportation	FY2009 $273,933,194	FY2010 $283,104,945

Authority: Titles 33.1 and 58.1, Code of Virginia.

A.1. Except as provided in Item 448 A, the Commonwealth Transportation Board shall allocate all monies in the Commonwealth Mass Transit Fund, as provided in § 58.1-638, Code of Virginia. The total appropriation for the Commonwealth Mass Transit Fund is $186,035,124 the first year and $194,366,436 the second year from the Transportation Trust Fund.

2. Included in Human Service Transportation Programs is $1,500,000 the first year and $2,500,000 the second year from the Commonwealth Mass Transit Trust Fund. These allocations are designated for “paratransit” capital projects and enhanced transportation services for the elderly and disabled.

3. In accordance with paragraph A 1, $146,911,125 the first year and $152,881,320 the second year is the estimated allocation to statewide Formula Assistance as provided in § 58.1-638, Code of Virginia. The allocation of Formula Assistance to each recipient shall be limited to the recipient's maximum eligibility as defined in § 58.1-638, Code of Virginia. When the initial allocation to a recipient is greater than the recipient's eligibility to receive Formula Assistance, the Commonwealth Transportation Board may transfer the surplus funds to the statewide Capital Assistance program for distribution under that program. The Commonwealth Transportation Board may hold harmless from a reduction in state formula assistance any transit system that maintains service levels from the previous year.

4. In accordance with Paragraph A 1, $35,445,961 the first year and $36,728,340 the second year from the Commonwealth Mass Transit Fund is the estimated allocation to statewide Capital Assistance.

5. From the amounts appropriated in this Item from the Commonwealth Mass Transit Fund, $2,126,758 the first year and $2,203,701 the second year is the estimated allocation to statewide Special Programs as provided in § 58.1-638, Code of Virginia.

6. Not included in this appropriation is an amount estimated at $22,913,649 the first year and $23,382,741 the second year allocated to transit agencies from federal sources for the Surface Transportation Program (STP) and the Minimum Guarantee program.

B. The Commonwealth Transportation Board shall operate a program entitled the Transportation Efficiency Improvement Fund (TEIF). The purpose of the TEIF program is to reduce traffic congestion by supporting transportation demand management programs and projects designed to reduce the movement of passengers and freight on Virginia's highway system. Using transportation revenues generally available to the Board, funds shall be apportioned as determined by the Board to designated transportation projects in addition to funds allocated pursuant to § 33.1-23.1, Code of Virginia. Total TEIF program funding shall not exceed $4,000,000 the first year and $4,000,000 the second year.

C. Funds from a stable and reliable source, as required in Public Law 96-184, as amended, are to be provided to Metro Rail from payments authorized and allocated in this program and pursuant to § 58.1-1720, Code of Virginia.

D. Funds appropriated to the Department of Rail and Public Transportation and allocated to the Northern Virginia Transportation Commission to be allocated to its member jurisdictions are held in trust by the Commission for those jurisdictions until released by specific authorization from the governing bodies of the jurisdictions for the purpose for which funds were appropriated.

E. It is the intent of the Governor and General Assembly that the principles of local maintenance of effort, transit sustainability, public benefit, and asset management shall be incorporated into all public transportation programs for which funds are appropriated by the General Assembly and allocated by the Commonwealth Transportation Board. Beginning in the first year, the Director, Department of Rail and Public Transportation shall recommend, and the Board may consider, the establishment of a maintenance of effort requirement to ensure sustained local investment for public transportation operations. In addition, the director shall examine and report to the Governor, the General Assembly, and the Commonwealth Transportation Board on the establishment and incorporation of all principles no later than June 30, 2009. In the second year, the Commonwealth Transportation Board shall begin to incorporate such principles in the allocation of public transportation funding for FY 2010.