2012 Session

Budget Amendments - SB29 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Saslaw
Transit Formula Allocation of GF Surplus

Item 452 #2s

Item 452 #2s

First Year - FY2011 Second Year - FY2012
Transportation, Department of FY2011 $0 FY2012 $0 GF

Page 149, line 47, strike "$67,241,000" and insert "$57,356,573".
Page 150, following line 23, insert:
"K. Of the amounts contained in the Item, $9,884,427 the second year from the general fund shall be deposited to the Mass Transit Trust Fund in accordance with the provisions of §§ 2.2-1514 and 33.1-23:02:2, Code of Virginia."

(This amendment reduces the proposed deposit of $67.2 million to the Virginia Transportation Infrastructure Bank by 14.7 percent to account for the Mass Transit Trust Fund share of the FY 2011 General Fund surplus. Statute requires that surplus revenues be deposited to the Transportation Trust Fund, however Appropriations Act language currently overrides this provision and directs these funds to be deposited to the Virginia Transportation Infrastructure Bank.)