2014 Special Session I

Budget Amendments - HB5002 (Floor Approved)

View Budget Item
View Budget Item amendments

Use of 2008 Appropriation Balances (language only)

Item 444 #5h

Item 444 #5h

Transportation, Department of

Page 381, after line 3, insert:
"G. 1. In order to maximize the Department's cash management flexibility, authorization balances from the Commonwealth of Virginia Transportation Capital Projects Revenue Bonds authorized pursuant to Item 459 H., Chapter 879 of the 2008 Acts of Assembly, in an amount totaling $31,070,647 shall be transferred from the Transportation Partnership Opportunity Fund to the Transportation Trust Fund and, not withstanding the provisions of Item 449.10,  Chapter 847 of the 2007 Acts of Assembly, shall be made available to advance projects eligible for federal grant programs.
2.  An offsetting transfer of $31,070,647 of the amounts in the Transportation Trust Fund pursuant to § 33.1-23.03:1 shall be made to the Transportation Partnership Opportunity Fund, and notwithstanding the limitations contained in § 33.1-221.1:8 E, Code of Virginia, the Governor shall provide sufficient grants from this amount to advance acquisition and construction of the following projects: $10,000,000 shall be transferred to the Commonwealth Port Fund for environmental studies related to the dredging of the Hampton Roads Harbor and the Elizabeth River channel, and up to $20,000,000 shall be programmed by the Department to undertake rail grade separation projects selected in conjunction with the Department of Rail and Public Transportation, the Virginia Port Authority and the City of Suffolk as part of an effort to improve the movement of rail in the city the serves port facilities.  The amounts set out in this item shall not revert but shall carry forward at the close of fiscal year 2014."

(This amendment adds additional language governing the use of balances remaining from a 2008 authorization of additional funding for transportation which at that time, was dedicated to specific projects which have since been completed. Balances totaling $31.1 million remain from the original $500.0 million designation.)