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2010 SESSION
10105118DBe it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding a section numbered 33.1-23.02:1 as follows:
§ 33.1-23.02:1. Establishment and use of regional accounts by the Commonwealth Transportation Board for funding of specific primary and secondary road projects.
The Commonwealth Transportation Board shall establish a system of regional accounts, one for each highway construction district, whereby new transportation revenues not previously in existence generated on and after July 1, 2010 shall be deposited. New revenues, as heretofore provided for, shall be deposited into the accounts, based upon where the revenue was generated. The Commonwealth Transportation Board shall allocate from these regional accounts revenues necessary for the construction of specific primary and secondary road projects in each highway construction district. The system of allocations is intended to supplement and not replace other allocation formulas and procedures provided for in this chapter.