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2007 SESSION
HB 1712 Transportation Capital Projects Bond Debt Service Fund; created.
Introduced by: Vincent F. Callahan, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Virginia Public Building Authority; prison construction. Authorizes (i) the Virginia Public Building Authority to issue bonds in an amount not to exceed $106,500,000 for the construction of a medium security prison in the Mt. Rogers Planning District, and for state parks; (ii) the Virginia College Building Authority to issue bonds not to exceed $241,835,488 to fund the costs of numerous capital projects at public institutions of higher education; and (iii) authorizes the Commonwealth Transportation Board (CTB) to issue bonds in an amount not to exceed $2 billion for transportation purposes. The bill dedicates certain insurance premium tax revenue, and $163 million in surplus funds to pay debt service on the bonds issued by the CTB. The remaining surplus of $64 million is appropriated to the Transportation Trust Fund.
SUMMARY AS INTRODUCED:
Virginia Public Building Authority; prison construction. Authorizes the Virginia Public Building Authority to issue bonds in an amount not to exceed $99 million for the construction of a medium security prison in the Mt. Rogers Planning District.