2011 Session

Budget Amendments - HB1500 (Conference Report)

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Item 452 #2c

Item 452 #2c

First Year - FY2011 Second Year - FY2012
Transportation, Department of FY2011 ($117,300,000) FY2012 $0 GF

Page 386, line 7, strike "$1,215,144,626" and insert "$1,097,844,626".
Page 387, line 2, strike "$150,000,000" and insert "$32,700,000".
Page 387, line 7, strike "State" and insert "Virginia".
Page 387, after line 16, insert:
4. Notwithstanding any other provision of law, this item shall be the sole authority for capitalizing the bank.  As a condition of this appropriation, and prior to the transfer of any general funds or Commonwealth Transportation funds to the bank, the Secretary of Transportation shall certify in writing to the Governor and the Chairman of the House Committees on Appropriations and Transportation and the Senate Committees on Finance and Transportation a plan that shall include, but not be limited to, identification of any specific project or program balance to be transferred to the bank as well as the corresponding fund source."

(This amendment reduces the general fund amount proposed to be deposited into the Virginia Transportation Infrastructure Bank created pursuant to legislation adopted by the 2011 General Assembly to reflect the provisions of § 2.2-1514, which requires two-thirds of the fiscal year 2010 general fund surplus to be deposited to transportation.)