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2011 SESSION

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HB 1582 Virginia Transportation Infrastructure Bank; created.

Introduced by: John A. Cosgrove | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Transportation funding; Virginia Transportation Infrastructure Bank.  Creates the Virginia Transportation Infrastructure Bank (VTIB) as a special fund to provide loans and grants to public and private entities to fund transportation projects in the Commonwealth. The special fund shall consist of revenues generated through the privatization of the Commonwealth’s ABC stores and revenues generated through a one-time drawing down of construction cash reserves by the Virginia Department of Transportation. VTIB is authorized to issue bonds in an amount not to exceed $4 billion.


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