Included in this item is $339,000,000 $500,000,000 the first year from the general fund to be used to implement the following transportation initiatives: legislation as may be adopted by the General Assembly by the General Assembly by November 1, 2006.  Such legislation shall include a separate enactment clause allocating these funds.

1. $305,000,000 shall be transferred to the Transportation Partnership Opportunity Fund to advance acquisition and construction of the following projects, pursuant to § 33.1-12 or § 56-556 et seq, Code of Virginia: Capital Beltway HOT lanes, Hillsville Bypass, I-64/I-264 interchange, Rt. 50 widening in Loudoun and Fairfax Counties, an updated Environmental Impact Statement for Route 37 Eastern Bypass in Frederick County, and right-of-way owned by the Norfolk Southern Corporation and located between Newtown Road and the Oceanfront.  Notwithstanding the limitations contained in § 33.1-221.1:8 E, Code of Virginia, the Governor shall provide sufficient grants and loans from this amount to advance acquisition and construction of the projects listed above.

2. $65,000,000 shall be transferred to the Rail Enhancement Fund to complete funding for the six I-95 rail corridor improvements underway and the travel-time improvements for passenger rail service between Main Street and Staples Mill Stations.  Any remaining funds are to be used to address Phase I of the I-81 Rail Corridor improvements, as identified by the Department of Rail and Public Transportation in the 2003 Northeast-Southeast-Midwest Corridor Marketing Study.

3. $45,000,000 shall be transferred to the Commonwealth Transit Capital Fund to be used to support rolling stock acquisition by the Washington Metropolitan Area Transit Authority ($20,000,000) and the Virginia Railway Express ($15,000,000), and for the Hampton Roads Transit Light Rail project ($10,000,000).  An additional $15,000,000 shall be transferred to the Mass Transit Capital Assistance Program.

4. $50,000,000 shall be transferred to the Commonwealth Port Fund to be used for port-related improvements in the Hampton Roads area.  Of this amount, up to $40,000,000 may be used to support the Route 164 median rail relocation project.  Any remaining funds shall be used to initiate planning for the Craney Island eastward expansion project.

5. $20,000,000 shall be used to supplement the Local Road Revenue Sharing Program.