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2008 SPECIAL SESSION II

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081932712
HOUSE BILL NO. 6006 Offered June 23, 2008 Prefiled June 18, 2008 A BILL to dedicate all future revenues and royalties that are paid to the Commonwealth as a result of offshore natural gas and oil drilling to the state's Transportation Trust Fund. ----------
Patrons-- Saxman, Byron, Carrico, Cline, Cosgrove, Cox, Gear, Gilbert, Hamilton, Janis, Jones, S.C., Kilgore, Landes, Lingamfelter, Lohr, Loupassi, Marshall, D.W., Merricks, Miller, J.H., O'Bannon, Oder, Pogge, Poindexter, Purkey, Sherwood and Tata
---------- Referred to Committee on Rules ----------

Whereas, Congress recently passed legislation to encourage offshore natural gas and oil drilling; and

Whereas, a portion of such drilling may take place off the coast of Virginia; and

Whereas, such drilling is expected to produce significant amounts of revenues and royalties which shall be paid to the United States government; and

Whereas, Congress discussed sharing a portion of such royalties with the states whose borders are closest to the drilling; now, therefore

Be it enacted by the General Assembly of Virginia:

1.  §1. That all future revenues and royalties that are paid to the Commonwealth as a result of any offshore natural gas and oil drilling, which is allowed by the federal government, shall be deposited into the Commonwealth's Transportation Trust Fund, to be used solely for transportation purposes.