Source: https://budget.lis.virginia.gov/amendment/2018/1/SB30/Introduced/FA/453/1s/
Timestamp: 2019-04-24 17:50:20+00:00

Document:
Page 395, line 20, strike "$1,055,137,057" and insert "$1,004,603,724".
Page 395, line 20, strike "$1,048,970,884" and insert "$998,137,551".
Page 396, strike line 13 through line 32.
Authority: Title 33.2, Chapter 1, Code of Virginia.
A. Out of the amounts for Financial Assistance for Planning, Access Road, and Special Projects, $7,000,000 the first year and $7,000,000 the second year from the Commonwealth Transportation Fund shall be allocated for purposes set forth in §§ 33.2-1509, 33.2-1600, and 33.2-1510, Code of Virginia. Of this amount, the allocation for Recreational Access Roads shall be $1,500,000 the first year and $1,500,000 the second year.
B. Distribution of Northern Virginia Transportation Authority Fund Revenues represents direct payments, of the revenue collected and deposited into the Fund, to the Northern Virginia Transportation Authority for uses contained in Chapter 766, 2013 Acts of Assembly. Notwithstanding any other provision of law, moneys deposited into the Hampton Roads Transportation Fund shall be transferred to the Hampton Roads Transportation Accountability Commission for use in accordance with § 33.2-2611, Code of Virginia.
C. The prioritization process developed under § 33.2-214.1, Code of Virginia, shall not apply to use of funds provided in this Item from federal apportionments in the Metropolitan Planning Program.
D. Notwithstanding the provisions of § 4-3.02 of this act, the Secretary of Finance may provide the Department of Transportation interest-free treasury loans in an amount not to exceed $1,700,000 per year which may be extended for a period longer than twelve months. The loan amounts would be provided to the City of Portsmouth to offset losses in personal property tax collections generated by the City due to the transfer of personal property from the Virginia International Gateway to the Commonwealth. The specific terms and structure of any loan shall be approved by the Secretary of Finance, after consultation with the Chairmen of the House Appropriations and Senate Finance Committees, or their designees. A treasury loan for this purpose shall be considered as bridge financing until the planned expansion of the Virginia International Gateway Facility commences and additional equipment is purchased which will generate personal property taxes that the City of Portsmouth shall use to repay the loan. To the extent the loan is not repaid as required by the specific terms of the loan, the Department of Transportation is directed to withhold the payment amount due from funds provided to the City of Portsmouth pursuant to § 33.2-319, Code of Virginia, to repay the loan.
2. Notwithstanding § 33.2-2510, Code of Virginia, five percent of the revenues received by the Northern Virginia Transportation Authority shall be used by the Authority solely to fund capital and operating needs of the Virginia Railway Express.
4. The regional tax rate of 2.1 percent applied on the sale of fuels by wholesalers to retail dealers authorized under § 58.1-2295, Code of Virginia, shall have a price floor identical to the price floor that exists in the statewide sales tax on fuel, as determined by the Commissioner pursuant to § 58.1-2217, Code of Virginia. The increase in revenues provided to the Northern Virginia Transportation Commission from this provision shall be dedicated for capital improvement needs of the Washington Metro Area Transit Authority.

References: § 33
 § 33
 § 4
 § 33
 § 33
 § 58
 § 58