Item 449 | First Year - FY2017 | Second Year - FY2018 |
|---|---|---|
| Financial Assistance for Rail Programs (61000) | $129,339,969 | $129,339,969 |
| Rail Industrial Access (61001) | FY2017 $3,000,000 | FY2018 $3,000,000 |
| Rail Preservation Programs (61002) | FY2017 $14,583,720 | FY2018 $14,583,720 |
| Passenger and Freight Rail Financial Assistance Programs (61003) | FY2017 $111,756,249 | FY2018 $111,756,249 |
| Fund Sources: | ||
| Special | FY2017 $1,000,000 | FY2018 $1,000,000 |
| Commonwealth Transportation | FY2017 $123,939,969 | FY2018 $123,939,969 |
| Federal Trust | FY2017 $4,400,000 | FY2018 $4,400,000 |
Authority: Title 33.2, Code of Virginia.
A. 1. Except as provided in Item 450, the Commonwealth Transportation Board shall operate the Shortline Railway Preservation and Development program in accordance with § 33.2-1602, Code of Virginia. As determined by the board, funds apportioned pursuant to § 33.2-1530 or § 33.2-1601, Code of Virginia, shall be appropriated to the Shortline Railway Preservation and Development Program. Total funding appropriated to the Shortline Railway Preservation and Development Program shall not exceed $4,000,000 the first year and $4,000,000 the second year.
2. The board may allocate up to 20 percent of the annual revenue of the Rail Enhancement Fund established through § 33.2-1601, Code of Virginia, to the Shortline Railway Preservation and Development Fund. Should funds established in § 33.2-1601, Code of Virginia, be allocated for the purposes outlined in § 33.2-1602, Code of Virginia, the Director of the Department of Rail and Public Transportation shall administer and expend the funds subject to the approval of the board and according to the authority outlined in § 33.2-1602; the requirements of § 33.2-1601 shall not apply.
B. The Commonwealth Transportation Board shall operate the Rail Industrial Access Program in accordance with § 33.2-1600, Code of Virginia. The board may allocate funds pursuant to § 33.2-358, Code of Virginia, to the fund for construction of industrial access railroad tracks.
C. Of the funds appropriated pursuant to Chapters 1019 and 1044 of the 2000 Acts of Assembly for passenger rail capacity improvements in the I-95 passenger rail corridor between Richmond and the District of Columbia, the Director of the Department of Rail and Public Transportation is authorized to utilize any remaining funds along the described corridor for the development of intercity passenger rail enhancements to include rail improvements and passenger station facilities.