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2004 SESSION

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SJ 18 Constitutional amendment; Hwy. Maintenance & Operating Fund & Transp. Trust Fund continued.

Introduced by: Janet D. Howell | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); Highway Maintenance and Operating Fund and Transportation Trust Fund. Provides that the Highway Maintenance and Operating Fund and the Transportation Trust Fund shall be permanent funds. Starting with the Commonwealth's fiscal year beginning July 1, 2007, the General Assembly shall appropriate to each Fund an amount no less than the amount appropriated to the respective Fund in the immediately preceding fiscal year.

The amendment limits the use of Trust Fund moneys to highway construction, maintenance, and improvements, public transportation, railways, seaports, and airports. The General Assembly may use Fund proceeds for other purposes only by a two-thirds vote of the members in each house. However, Fund proceeds used for other purposes must be repaid to the Fund within four years.

A substitute for this resolution was reported by the Senate Committee on Privileges and Elections that incorporated SJRs 54 and 60 and was identical to HJR 136 as introduced.


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