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2005 SESSION
SB 985 Highway construction; advance of funds by counties, reimbursement by VDOT when become available.
Introduced by: John C. Watkins | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Highway construction; advance of funds by counties. Provides that if funding for the construction of a primary or interstate project is scheduled in the Commonwealth Transportation Board’s Six-Year Improvement Program as defined in § 33.1-12, a locality may choose to advance funds to the project. The bill further provides that if such an advance is offered, the Board may consider such request and agree to such advancement and the subsequent reimbursement of the locality of the advance, in accordance with terms agreed upon by the Board and the locality.
SUMMARY AS PASSED SENATE:
Highway construction; advance of funds by counties. Provides that if funding for the construction of a primary or interstate highway project is scheduled in the Commonwealth Transportation Board’s Six-Year Improvement Program, a locality may choose to advance funds to the project. If such an advance is offered, the Board must consider such request and agree to such advancement and the subsequent reimbursement of the locality of the advance in accordance with terms agreed upon by the Board or its designee and the locality.
SUMMARY AS INTRODUCED:
Highway construction; advance of funds by counties. Allows advancement of county funds for highway construction, with reimbursement by VDOT from identified funding sources pursuant to an agreement between VDOT and the county.