AMENDMENT(S) REJECTED BY THE SENATE

SEN. STOLLE

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A BILL to amend and reenact §§ 2.2-203.1, 2.2-203.2, 15.2-4838, 15.2-4838.1, 15.2-4840, 33.1-23.03, 33.1-391.5, 58.1-603, 58.1-604, 58.1-604.1, 58.1-608.3, 58.1-611.1, 58.1-612, 58.1-614, 58.1-638, 58.1-639, 58.1-802, 58.1-811, 58.1-815, 58.1-815.1, 58.1-816.1, 58.1-2217, 58.1-2249, 58.1-2289, as it is currently effective and as it may become effective, 58.1-2402, 58.1-2403, as it shall become effective, 58.1-2425, 58.1-2701, as it is currently effective and as it may become effective, and 58.1-2706 of the Code of Virginia, and to amend and reenact the fifth enactment of Chapter 896 of the Acts of Assembly of 2007; to amend the Code of Virginia by adding sections numbered 2.2-126.1, 58.1-603.1, and 58.1-603.3, by adding in Chapter 48.2 of Title 15.2 a section numbered 15.2-4841, by adding in Article 1.1 of Chapter 1 of Title 33.1 a section numbered 33.1-23.5:3, by adding in Title 33.1 a chapter numbered 10.3, consisting of sections numbered 33.1-391.16, 33.1-391.17, 33.1-391.18, and 33.1-391.19, and by adding in Title 58.1 a chapter numbered 6.01, consisting of a section numbered 58.1-639.1; and to repeal §§ 2.2-2817.1, 46.2-755.1, 46.2-755.2, 46.2-1167.1, 58.1-625.1, 58.1-802.1, 58.1-2402.1, and 58.1-3825.1 of the Code of Virginia, to repeal Chapter 10.2 (§§33.1-391.6 through 33.1-391.15) of Title 33.1 of the Code of Virginia and Article 4.1 (§§ 58.1-1724.2 through 58.1-1724.7) of Chapter 17 of Title 58.1, and to repeal the sixth, thirteenth, fourteenth, fifteenth, eighteenth, and nineteenth enactments of Chapter 896 of the Acts of Assembly of 2007, relating to transportation funding and administration, including taxes and fees for transportation funding. 

SEN. STOLLE

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2. That §§ 2.2-203.1, 2.2-203.2, 15.2-4838, 15.2-4838.1, 15.2-4840, 33.1-23.03, 33.1-391.5, 58.1-603, 58.1-604, 58.1-604.1, 58.1-608.3, 58.1-611.1, 58.1-612, 58.1-614, 58.1-638, 58.1-639, 58.1-802, 58.1-811, 58.1-815, 58.1-815.1, 58.1-816.1, 58.1-2217, 58.1-2249, 58.1-2289, as it is currently effective and as it may become effective, 58.1-2402, 58.1-2403, as it shall become effective, 58.1-2425, 58.1-2701, as it is currently effective and as it may become effective, and 58.1-2706 of the Code of Virginia are amended and reenacted and that the Code of Virginia is amended by adding sections numbered 2.2-126.1, 58.1-603.1 and 58.1-603.3, by adding in Chapter 48.2 of Title 15.2 a section numbered 15.2-4841, by adding in Article 1.1 of Chapter 1 of Title 33.1 a section numbered 33.1-23.5:3, by adding in Title 33.1 a chapter numbered 10.3, consisting of sections numbered 33.1-391.16, 33.1-391.17, 33.1-391.18, and 33.1-391.19, and by adding in Title 58.1 a chapter numbered 6.01, consisting of a section numbered 58.1-639.1, as follows:

SEN. STOLLE

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CHAPTER 10.3.

REVENUES FOR TRANSPORTATION IN HAMPTON ROADS.

§ 33.1-391.16. Use of Hampton Roads Transportation Revenue Fund moneys; certain transportation projects delineated.

A. Moneys deposited into the Hampton Roads Transportation Revenue Fund (the “Fund”) established under § 33.1-391.18 shall be used as provided in subsections B and C.

B. From the moneys deposited into the Fund pursuant to § 33.1-391.17, an amount equal to five percent of such moneys, but not to exceed $15 million in aggregate in any fiscal year, shall be distributed in equal shares to the Cities of Newport News, Norfolk, and Portsmouth to be used for local or regional projects directly relating to transportation, which may include debt service payments on any obligations authorized and issued on or after July 1, 2010.

Such distributions shall be made quarterly on the 15^th of September, December, March, and June.

C. The remaining moneys in the Fund shall be used solely for those transportation projects that are included in the federally mandated 2030 Regional Transportation Plan approved by the Hampton Roads Metropolitan Planning Organization, or any successive plan, except as provided herein. The following First Phase Projects shall be a priority such that moneys in the Fund shall not be used for the following Second Phase Projects until financing plans for the maintenance, operation, and construction for the projects listed in the First Phase have been considered and acted upon:

First Phase Projects:

Route 460 upgrade; I-64 widening on the Peninsula; I-64 widening on the Southside; Downtown Tunnel/Midtown Tunnel/MLK extension; Southeastern Parkway/Dominion Blvd/Route 17; I-664 widening in Newport News; I-664 widening on the Southside; and I-664 Monitor Merrimac Memorial Bridge Tunnel widening.

Second Phase Projects:

I-564 from I-64 to the Intermodal Connector; I-564 Connector to the Monitor Merrimac Memorial Bridge Tunnel; Craney Island Connector; construction of the Third Crossing; and construction/improvements/ enhancements to the Hampton Roads Bridge-Tunnel.

Moneys in the Fund may be used for the payment of principal, interest, issuance costs, and other costs directly relating to bonds or other debt issued or entered into solely for the transportation projects described or set out in this subsection.

§ 33.1-391.17. Revenues attributable to economic growth from cargo marine terminals deposited into the Hampton Roads Transportation Revenue Fund. 

A. As used in this section, unless the context clearly shows otherwise:

“Base number of cargo containers” means the cargo containers in the Commonwealth’s fiscal year beginning July 1, 2008.

“Cargo container” means the number of cargo containers loaded onto, or unloaded from, ships in the ports for commerce in a fiscal year, measured in 20-foot-equivalent units.

“Net revenues” means the gross revenues less the applicable portion of any refunds.

“Ports” means the public and private general cargo marine terminals located in Hampton Roads.

“State tax revenues” means the net revenues collected from the (i) state sales tax pursuant to Chapter 6 (§ 58.1-600 et seq.) of Title 58.1, (ii) individual income tax pursuant to Chapter 3 (§ 58.1-300 et seq.) of Title 58.1, (iii) corporate income tax pursuant to Chapter 3 (§ 58.1-300 et seq.) of Title 58.1, plus (iv) insurance license tax pursuant to Chapter 25 (§ 58.1-2500 et seq.) of Title 58.1 for the Commonwealth’s fiscal year beginning July 1, 2008.

B. There shall be deposited into the Hampton Roads Transportation Revenue Fund established under § 33.1-391.18 a portion of the growth in state taxes attributable to economic activity generated or facilitated by the ports of Hampton Roads. The amount deposited into the Fund in each fiscal year shall be determined using the following revenue ratio:

State tax revenues attributable to economic activity generated or facilitated by the ports/

Base number of cargo containers

The General Assembly intends for the revenue ratio to be a measure of the state revenues attributable to economic activity of the ports on a per cargo container basis.

Deposits to the Fund shall begin in the Commonwealth’s fiscal year starting on July 1, 2010. For such fiscal year, the amount deposited to the Fund shall be computed by:

1. First multiplying the revenue ratio by the increase in cargo containers for the most recently ended fiscal year over the base number of cargo containers, and

2. Second multiplying such product by 30 percent (.30).

As a result, the amount deposited into the Fund for the Commonwealth’s fiscal year starting on July 1, 2010, shall be computed using the following formula:

Revenue ratio X (Increase in cargo containers in Fiscal Year 2009-2010 over the base number of cargo containers) X .30.

For the fiscal year starting on July 1, 2011, and for each fiscal year thereafter, the amount deposited into the Fund shall be computed using such formula except that the cargo containers in the  most recently ended fiscal year shall be used for determining the increase over the base number of cargo containers.

C. The Secretary of Finance, in consultation with the Secretary of Transportation, shall determine the revenue ratio. In determining the numerator of the revenue ratio or the state tax revenues attributable to economic activity generated or facilitated by the ports, the Secretary shall include state tax revenues from (i) port operations, including but not limited to revenues from pilots, longshoremen, truck and rail transportation, insurance, warehousing, storage, and ship servicing; (ii) the production in Virginia of goods exported through the ports; (iii) imports sold to citizens of the Commonwealth or used as inputs by businesses located in the Commonwealth or by Virginia state and local governmental entities; and (iv) employee compensation, fuel costs, business and professional services, power, and communications relating to the factors set forth in clauses (i) through (iii). The Secretary shall determine the revenue ratio no later than January 1, 2010, and shall promptly report the same to the chairmen of the House committee on Appropriations, House Committee on Finance, and the Senate Committee on Finance.

D. The Secretary of Finance, in consultation with the Secretary of Transportation, shall determine the amount to be deposited into the Fund in each fiscal year in accordance with the provisions of this section. The Secretary of Finance shall provide a written certification of the same to the Comptroller by August 31 each year. The Comptroller shall then deposit such amount into the Fund by making four equal deposits into the Fund on the 15^th of September, December, March, and June.

E. Notwithstanding any other provision of this section, the amount deposited into the Fund pursuant to this section shall not exceed $250 million in any fiscal year.

§ 33.1-391.18. Hampton Roads Transportation Revenue Fund established.

There is hereby created in the state treasury a special nonreverting fund to be known as the Hampton Roads Transportation Revenue Fund, hereafter referred to as “the Fund.” The Fund shall be established on the books of the Comptroller. The Fund shall consist of the required deposits under § 33.1-391.17. All other moneys designated for the Fund from any other source, public or private, shall be paid into the state treasury to the credit of the fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. The Fund shall be considered a part of the Transportation Trust Fund.

The Commonwealth Transportation Board shall use the moneys in the Fund pursuant to subsection C of § 33.1-391.16 solely for the transportation projects described or set out in such subsection.

Expenditures and disbursements from the fund shall be made by the State Treasurer on warrants issued by the Comptroller.

§ 33.1-391.19. Fund allocations in addition to all other transportation allocations for Hampton Roads.

All moneys deposited into the Hampton Roads Transportation Revenue Fund, including the required deposits pursuant to § 33.1-391.17, shall be in addition to all other allocations under this Code for transportation facilities, road or highway maintenance, mass transit, airports, seaports, or transportation or transit operating costs in Hampton Roads, and not in lieu of the same. Such other allocations shall not be computed or determined or administered in any manner that takes into consideration any moneys deposited into the Hampton Roads Transportation Revenue Fund.

SEN. STOLLE

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5. Line 556, substitute, after § 58.1-603.1

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or § 58.1-603.2

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6. Line 660, substitute, after § 58.1-603.1,

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§ 58.1-603.2,

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7. Line 712, substitute, after § 58.1-603.1,

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§ 58.1-603.2,

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9. Line 1041, substitute, after § 58.1-603.1,

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§ 58.1-603.2,

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and

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14. Line 1915, substitute, after Virginia,

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