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2007 SESSION

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SJ 180 Constitutional amendment; funds for transportation purposes (first reference).

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

SUMMARY AS PASSED SENATE: (all summaries)

Constitutional amendment (first resolution); Transportation Funds. Requires the General Assembly to maintain permanent and separate Transportation Funds to include the Commonwealth Transportation Fund, Transporta­tion Trust Fund, Highway Maintenance and Operating Fund, Priority Transportation Fund, and other funds dedicated to transportation by general law. All revenues dedicated to Trans­portation Funds on July 1, 2006, by general law, other than a general appropriation law, shall be deposited to the Transporta­tion Funds, unless the General Assembly by general law, other than a general appropriation law, alters the revenues dedicated to the Funds. The amendment limits the use of Fund moneys to transportation and related purposes. The General Assembly may borrow from the Funds for other purposes only by a vote of two-thirds plus one of the members voting in each house, and the loan or reduction must be repaid with reasonable inter­est within three years. The amendment limits the use of general and other non-transportation funds for transportation purposes except for certain debt service payments and, additionally, in an amount not to exceed $80 million in any fiscal year.


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