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2015 SESSION

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15101947D
HOUSE BILL NO. 2021 Offered January 14, 2015 Prefiled January 14, 2015 A BILL to amend and reenact § 33.2-2600 of the Code of Virginia, relating to the Hampton Roads Transportation Fund. ---------- Patron-- BaCote ---------- Referred to Committee on Transportation ----------

Be it enacted by the General Assembly of Virginia:

1. That § 33.2-2600 of the Code of Virginia is amended and reenacted as follows:

§ 33.2-2600. Hampton Roads Transportation Fund.

There is hereby created in the state treasury a special nonreverting fund for Planning District 23 to be known as the Hampton Roads Transportation Fund, referred to in this chapter as "the Fund." The Fund shall be established on the books of the Comptroller. All revenues dedicated to the Fund pursuant to § 58.1-638 and Chapter 22.1 (§ 58.1-2291 et seq.) of Title 58.1 shall be paid into the state treasury and credited to 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 moneys deposited in the Fund shall be used solely for new construction projects on new or existing highways, bridges, and tunnels or for public transportation purposes in the localities comprising Planning District 23 as approved by the Hampton Roads Transportation Accountability Commission. The Hampton Roads Transportation Accountability Commission shall give priority to those projects that are expected to provide the greatest impact on reducing congestion for the greatest number of citizens residing within Planning District 23 and shall ensure that the moneys shall be used for such construction projects or public transportation purposes.

The amounts dedicated to the Fund shall be deposited monthly by the Comptroller into the Fund. The amounts deposited into the Fund and the distribution and expenditure of such amounts shall not be used to calculate or reduce the share of federal, state, or local revenues otherwise available to participating localities. Further, such revenues and moneys shall not be included in any computation of, or formula for, a locality's ability to pay for public education, upon which appropriations of state revenues to local governments for public education are determined.