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2015 SESSION
15104307DBe it enacted by the General Assembly of Virginia:
1. That § 33.2-1526 of the Code of Virginia is amended and reenacted as follows:
§ 33.2-1526. Commonwealth Space Flight Fund, Commonwealth Port Fund, Commonwealth Airport Fund, Commonwealth Mass Transit Fund, and Commonwealth Space Flight Fund.
Of the funds becoming part of the Transportation Trust Fund
pursuant to subdivision 2 of § 33.2-1524, an aggregate of 4.2 percent shall be
set aside as the Commonwealth Port Fund as established in subdivision A 2 of §
58.1-638; an aggregate of 2.4 percent shall be set aside as the Commonwealth
Airport Fund as established in subdivision A 3 of § 58.1-638; and an aggregate
of 14.7 percent shall be set aside as the Commonwealth Mass Transit Fund as
established in subdivision A 4 of § 58.1-638. Beginning with the Commonwealth's
2012-2013 fiscal year through the Commonwealth's 2016-2017 2021-2022
fiscal year, each fiscal year from the funds becoming part of the
Transportation Trust Fund pursuant to subdivision 2 of § 33.2-1524 the
Comptroller shall transfer $9.5 million to the Commonwealth Space Flight Fund
as established in subdivision A 3a of § 58.1-638. The remaining funds deposited
into or held in the Transportation Trust Fund pursuant to subdivision 2 of §
33.2-1524, together with funds deposited pursuant to subdivisions 1 and 4 of §
33.2-1524, shall be expended for capital improvements, including construction,
reconstruction, maintenance, and improvements of highways according to the
provisions of subsection C of § 33.2-358 or to secure bonds issued for such
purposes, as provided by the Board and the General Assembly.