Chief Patron: LaRock
Local MOAs for Transit Funding (language only)
Item 4-14 #1h
Item 4-14 #1h | | | |
| Effective Date |
| Additional Enactments |
Language
Page 525, after line 38, insert:
"2. Should they be enacted into law, the provisions of §§ 58.1-802.3 and 58.1-1743 of the Code of Virginia, as created by House Bill 1539 and Senate Bill 656, 2018 Session of the General Assembly, and the provisions of the fourth enactment of such acts shall not become effective if the governing body of each county and city described in subsection A of § 33.2-3404 of the Code of Virginia, as created by such, enters into a memorandum of understanding prior to the effective date set forth in that enactment, and enters into a binding service agreement within 60 days of signing such memorandum of understanding, that provides for local funding for WMATA equal to the revenue that would have been generated by §§ 58.1-802.3 and 58.1-1743 of the Code of Virginia, as created by such acts. Each local government's share of funding shall be determined by multiplying $74.55 million by a fraction, the numerator of which shall be such local government's share of capital funding for WMATA and the denominator of which shall be the total share of capital funding for WMATA for all local governments in the Commonwealth. Revenues contributed by a locality pursuant to this enactment shall be deposited into the Non-Restricted Account of the Washington Metropolitan Area Transit Authority Capital Fund, established pursuant to § 33.2-3401 of the Code of Virginia, as created by such acts. The memorandum of understanding and service agreement shall also include a provision for the payment of each county or city's share of the $27.12 million required to be paid pursuant to § 33.2-3404 of the Code of Virginia, as created by such acts."
Page 525, line 39, strike "2." and insert "3.".
Page 525, line 39, after "June 30, 2020." insert: "The provisions of the second enactment of this act shall have no expiration date."
Explanation
(This amendment modifies the sixth enactment of House Bill 1539 and Senate Bill 856, 2018 Session of the General Assembly, to stipulate that the provisions of such acts which transfer the revenues generated by the existing transient occupancy tax and grantors tax from the Northern Virginia Transportation Authority to the Northern Virginia Transportation Commission to fund WMATA capital improvements shall not occur if the localities instead choose to provide their share of the WMATA capital funding formula from other local sources.)