2012 Special Session I

Budget Amendments - HB1301 (Committee Approved)

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Dulles Metro Phase II Funding (language only)

Item 450 #1s

Item 450 #1s

Transportation, Department of

Page 343, following line 46, insert:
"J. The second enactment of Chapters 830 and 868 of the Acts of Assembly of 2011 is amended to increase the Overall Limitation from $3,000,000,000 to $3,300,000,000.  The additional authorization is intended to be used to address the projected toll increases on the Dulles Toll Road necessary to fund the Dulles Metrorail Extension Project in addition to the $150,000,000 previously committed under a Memorandum of Understanding for Phase II of this project.  Any funding authorized herein for the Commonwealth's contribution shall be used in the payment of debt service on Dulles Toll Road Revenue Bonds issued to fund construction of the Dulles Corridor Metrorail Project, or in the payment of Dulles Corridor Metrorail Project construction costs."

(This amendment provides an additional $300 million in Commonwealth Project Revenue Bond proceeds for construction of Phase II of the Dulles Metro Silver Line for the express purpose of mitigating toll rates levied to support construction of this project.)