Source: https://vacode.org/33.2-2400/
Timestamp: 2020-02-19 20:21:07
Document Index: 334449816

Matched Legal Cases: ['§ 33', '§ 33', '§ 58', '§ 58', '§ 58', '§ 33', '§ 58', '§ 58', '§ 58', '§ 33']

Northern Virginia Transportation District Fund (§ 33.2-2400)—Virginia Decoded - Virginia Decoded
Next →33.2-2401 Northern Virginia Transportation District Program
§ 33.2-2400
Northern Virginia Transportation District Fund
A. There is hereby created in the Department of the Treasury a special nonreverting fund that shall be a part of the Transportation Trust Fund and that shall be known as the Northern Virginia Transportation District Fund, referred to in this chapter as “the Fund,” consisting of transfers pursuant to § 58.1-816 of annual collections of the state recordation taxes attributable to the Cities of Alexandria, Fairfax, Falls Church, Manassas, and Manassas Park and the Counties of Arlington, Fairfax, Loudoun, and Prince William; however, this dedication shall not affect the local recordation taxes under subsection B of § 58.1-802 and § 58.1-814. The Fund shall also include any public rights-of-way use fees appropriated by the General Assembly; any state or local revenues, including any funds distributed pursuant to § 33.2-366, that may be deposited into the Fund pursuant to a contract between a jurisdiction participating in the Northern Virginia Transportation District Program and the Commonwealth Transportation Board; and any other funds as may be appropriated by the General Assembly and designated for the Fund and all interest, dividends, and appreciation that may accrue thereto. Any moneys remaining in the Fund at the end of a biennium shall not revert to the general fund, but shall remain in the Fund, subject to the determination by the Commonwealth Transportation Board that a Category 2, 3, or 4 project may be funded.
C. On or before July 15, 1994, $ 19 million shall be transferred to the Fund. Such transfer shall be made by the issuance of a treasury loan at no interest in the amount of $ 19 million in the event such an amount is not included for the Fund in the general appropriation act enacted by the 1994 Session of the General Assembly. Such treasury loan shall be repaid from the Commonwealth’s portion of the state recordation tax imposed by Chapter 8 (§ 58.1-800 et seq.) of Title 58.1 designated for the Fund by this section and § 58.1-816.
1993, c. 391, § 58.1-815.1; 1994, cc. 470, 597; 1998, cc. 740, 761; 1999, c. 538; 2002, c. 799; 2003, c. 337; 2005, c. 621; 2014, c. 805; 2015, c. 684.
If you’re reading this for anything important, you should double-check its accuracy—read § 33.2-2400 on the official Code of Virginia website.