2019 Session

Budget Amendments - HB1700 (Committee Approved)

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Remove GF Appropriation for VTIB

Item 450 #1h

Item 450 #1h

First Year - FY2019 Second Year - FY2020
Department of Transportation FY2019 ($75,000,000) FY2020 $0 GF

Page 465, line 19, strike "$2,982,209,244" and insert "$2,907,209,244".

Page 466, strike lines 52 and 53.

Page 467, strike line 1.


(This amendment removes funding proposed in House Bill 1700 as introduced to recapitalize the Virginia Transportation Infrastructure Bank (VTIB). The Committee budget funding levels were limited to the additional dollars available pursuant to the economic reforecast presented in December, identified programmatic savings, and revenues generated by legislation expanding the collection of sales tax attributable to internet sales. All revenues attributable to the Tax Cuts and Jobs Act (TCJA) are captured in the Taxpayer Relief Fund and the Revenue Reserve Fund in Item 475.10. This required removing approximately $1.2 billion in spending compared to House Bill 1700 as introduced.)