SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2007 SESSION

  • | print version

HJ 677 Constitutional amendment; Transportation Funds.

Introduced by: David B. Albo | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); Transportation Funds.  Provides that moneys in six funds (the Commonwealth Transportation, Transportation Trust, Highway Maintenance and Operating, Priority Transportation, Shortline Railway Preservation and Development, and Rail Enhancement) shall be used for (i) administering, planning, constructing, improving, or maintaining the roads embraced in the systems of highways for the Commonwealth and its localities or furthering the interests of the Commonwealth in the areas of highways, public transportation, railways, seaports, or airports; (ii) making payments on bonds or other obligations that have been issued or entered into to finance transportation projects; (iii) making loans to finance transportation projects; and (iv) providing for the operation of state agencies related to transportation. The amendment restricts borrowing from transportation funds for other purposes by requiring a four-fifths recorded vote of each house of the General Assembly and requires repayment with interest in four years.


FULL TEXT

HISTORY