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1998 SESSION

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985998176
HOUSE BILL NO. 925 Offered January 26, 1998 A BILL to permit the lease, sale or exchange of highway rights-of-way for transportation or development purposes to a public college or university foundation and to exempt such projects from the capital appropriations process. ---------- Patron-- Cranwell ---------- Referred to Committee on Transportation ----------

Be it enacted by the General Assembly of Virginia:

1. §1. That in the event the Commonwealth Transportation Commissioner determines that a public college or university can efficiently, effectively, or economically carry out a transportation or development project on behalf of the Commonwealth on a highway or transportation right-of-way which is owned by the Department of Transportation, the Commissioner may lease, sell, or otherwise exchange the needed right-of-way to an affiliated university foundation on such terms and conditions as the Commissioner determines to be in the public interest.

§ 2. That any such project which is carried out by such an affiliated foundation that is related to the construction, improvement, operation, research or maintenance of highway and transportation facilities and purposes incidental thereto is exempt from the capital appropriations process and requirements of § 2.1-504.2.