Transportation Funding
| Bills | Committee | Last action | Date |
| HB 23 - Cole - Transportation Trust Fund; increases amount of sales and use tax revenue dedicated to Fund. | (H) Committee on Appropriations | (H) Left in Appropriations | 02/20/12 |
| notes:
SUMMARY AS INTRODUCED: Sales and use tax revenue dedicated to the Transportation Trust Fund. Increases the amount of sales and use tax revenue dedicated to the Transportation Trust Fund from an amount generated by a 0.5 percent tax rate under current law to an amount generated by a one percent tax rate, phased in by a 0.1 percent increase each year for five years, or over a longer period of time if there is a lack of growth in general fund revenues. |
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| HB 1018 - Poindexter - Route 58 Corridor Completion Fund; created. | (H) Committee on Appropriations | (H) Left in Appropriations | 02/20/12 |
| notes:
SUMMARY AS INTRODUCED: Establishes the U.S. Route 58 Corridor Completion Fund. Dedicates $50 million annually from the general fund to the U.S. Route 58 Trust Fund beginning July 1, 2013, until such time as Route 58 is completed to its intersection with Interstate 77 in Carroll County. |
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| HB 1248 - Lingamfelter - Transportation; provides revenues for construction, maintenance, and funding. | (H) Committee on Appropriations (S) Committee on Finance | (G) Acts of Assembly Chapter text (CHAP0729) | 04/09/12 |
| notes:
SUMMARY AS PASSED HOUSE: Transportation construction, operation and maintenance, and funding. Provides for the construction, maintenance, and funding of transportation by (i) increasing the dedicated transportation allocation of the sales and use tax from 0.5 percent to 0.75 percent, phased in over seven years, with the additional revenue dedicated for highway maintenance and operation, (ii) increasing transportation's share of year-end surpluses to 75 percent, and (iii) allowing the Governor to provide appropriations each year to transportation from a portion of revenue growth. The bill also authorizes the Commonwealth Transportation Board (CTB) to name highways, bridges, interchanges, and other transportation facilities for private entities if an annual naming rights fee is paid, with the revenue dedicated to highway maintenance and operation. The bill also charges the CTB with greater responsibilities involving integration of land use and transportation planning and authorizes the CTB to withhold federal and state funds for certain local or regional capital improvement projects if those projects are inconsistent with the Statewide Transportation Plan or the Six-Year Improvement Program. Provision is made for use of "revenue-sharing" funds for secondary highway system maintenance projects carried out by local governments. The bill also provides for special allocations by the CTB for bridge reconstruction, high priority highway projects, and reconstruction of highways with particularly deteriorated pavements. It also provides for the performance of maintenance projects directly by VDOT when it can be demonstrated to the Commissioner or the CTB that VDOT can do it at lesser cost than an outside |
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