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ACROSS SESSIONS

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1994 SESSION

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LD6932482
HOUSE BILL NO. 230 Offered January 17, 1994 A BILL to provide for the discontinuation of tolls collected on Virginia Route 44 (the Norfolk-Virginia Beach Toll Road). ----------
Patrons--Wagner, Copeland, Croshaw, McDonnell, Purkey, Robinson, Tata and Wardrup; Senators: Earley and Stolle
---------- Referred to Committee on Roads and Internal Navigation ----------

Be it enacted by the General Assembly of Virginia:

1. § 1. The Commonwealth Transportation Board shall immediately (i) cease the collection of tolls for the use of Virginia Route 44 (the Norfolk-Virginia Beach Toll Road) and (ii) take all necessary steps, not inconsistent with the terms of any applicable trust indenture, to repay any and all bonds or other obligations issued in connection with the construction, improvement, operation, and maintenance of Virginia Route 44.

§ 2. Any surplus remaining in any account in the sinking fund after the repayment of such bonds or other obligations shall be used exclusively to cover the costs of improvements to Virginia Route 44 essential at the time of the repayment of the bonds or other obligations.

§ 3. Any surplus remaining after the requirements of § 2 have been satisfied shall be deposited in the Transportation Trust Fund.

2. That the provisions of this act shall become effective only if and when Virginia Route 44 is made a part of the National Highway System.