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2015 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Rust
Implementation of TNC Legislation

Item 433 #2h

Item 433 #2h

First Year - FY2015 Second Year - FY2016
Transportation
Motor Vehicles, Department of FY2015 $650,000 FY2016 $350,000 NGF

Language
Page 401, line 8, strike "$165,832,775" and insert "$166,482,775".
Page 401, line 8, strike "$170,759,999" and insert "$171,109,999".
Page 402, after line 30, insert:
"K. Included in the amounts for this item is $650,000 in the first year and $350,000 in the second year  to support the start-up and on-going costs associated with the regulation of Transportation Network Companies in Virginia pursuant to the provisions of House Bill 1662, 2015 Session of the General Assembly."


Explanation
(This amendment provides $650,000 in the first year and $350,000 in the second year from nongeneral fund sources to support the implementation of House Bill 1662, 2015 Session of the General Assembly. This legislation establishes a legal framework for the operation of Transportation Network Companies in Virginia and authorizes DMV to conduct periodic reviews of the TNC to confirm compliance and authorizes fees to cover DMV's costs of administering the program, including an annual fee of $50 per TNC partner vehicle, an initial TNC license fee of $70,000, and an annual license renewal fee of $3,000. The bill requires DMV to review the fee structure and report by December 1, 2016. These fee revenues would be the source of funds for the nongeneral fund appropriation.)