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2004 SESSION
046432464Be it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Article 10 of Chapter 2.2 a section numbered 2.2-230 as follows:
§ 2.2-230. Commonwealth Integrated Transportation Planning Fund.
There is hereby established within the office of the Secretary of Transportation a special, nonreverting fund to be known as the Commonwealth Integrated Transportation Planning Fund. Such Fund shall be used by the Secretary of Transportation to provide competitive grants to regional planning commissions to develop or update regional transportation plans that integrate local land-use plans with multi-modal transportation plans. Such grants shall be awarded to regional planning commissions that present work plans, acceptable to the Secretary, that include memoranda of understanding with local political jurisdictions and, as appropriate, the Department of Transportation, the Department of Rail and Public Transit, the Virginia Port Authority, and the Department of Aviation. Such work plans shall provide for extensive public involvement in the planning process.
The Fund shall consist of appropriations from the General Assembly designated for the Fund and any gifts, bequests, or grants made to the Fund. Any moneys remaining in the Fund shall not revert to the general fund but shall remain in the Fund. Interest earned on such moneys shall remain in the Fund and be credited to it. Any income earned from gifts or bequests shall be deposited to the credit of the Fund.