Source: https://track.govhawk.com/document/f4fcc781bf385b79cd599d6031669842
Timestamp: 2020-04-05 22:06:28
Document Index: 280675081

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

20104391D
HOUSE BILL NO. 1541 Offered January 10, 2020 A BILL to amend and reenact §§ 58.1-603.1, 58.1-604.01, 58.1-638, and 58.1-2299.20, as it is currently effective and as it may become effective, of the Code of Virginia and to amend the Code of Virginia by adding in Title 33.2 a chapter numbered 37, consisting of sections numbered 33.2-3700 through 33.2-3713, and by adding a section numbered 58.1-2295.2, relating to creation of the Central Virginia Transportation Authority; funding. ---------- Patron-- McQuinn ---------- Committee Referral Pending ----------
A. There is hereby created in the state treasury a special nonreverting fund for Planning District 15 to be known as the Central Virginia Transportation Fund. The Fund shall be established on the books of the Comptroller. All revenues dedicated to the Fund pursuant to § 58.1-638 and Chapter 22.1 (§ 58.1-2291 et seq.) of Title 58.1 shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. The moneys deposited in the Fund shall be used solely for (i) new construction projects on new or existing highways and bridges in the localities comprising Planning District 15 as approved by the Authority, (ii) maintaining and expanding transit and mobility services in Planning District 15, and (iii) administrative and operating expenses as specified in subsection B of § 33.2-3706. The Authority shall give priority to those projects that are expected to provide the greatest impact on the greatest number of citizens residing within Planning District 15 and shall ensure that the moneys shall be used for such projects.
B. The amounts dedicated to the Fund shall be deposited monthly by the Comptroller into the Fund and thereafter distributed to the Authority as soon as practicable for use in accordance with this chapter. If the Authority determines that such moneys distributed to it exceed the amount required to meet the current needs and demands to fund transportation projects pursuant to this chapter, the Authority may invest such excess moneys to the same extent and in the same manner as provided in subsection A of § 33.2-1525 for excess funds in the Transportation Trust Fund.
D. Revenues in the Fund shall be allocated as follows:
1. Thirty-five percent shall be retained by the Authority to be used on transportation-related projects benefitting localities located in Planning District 15;
2. Fifteen percent shall be dedicated to transit and mobility services located in Planning District 15; and
1. The chief elected officer, or his designee, of the governing body of each of the counties and cities embraced by the Authority;
2. The chief elected officer, or his designee, of the Town of Ashland;
4. The following five persons serving ex officio as nonvoting members of the Authority: a member of the Commonwealth Transportation Board who resides in a locality embraced by the Authority and is appointed by the Governor; the Director of the Department of Rail and Public Transportation, or his designee; the Commissioner of Highways, or his designee; the Executive Director of the Greater Richmond Transit Company (GRTC); and the Chief Executive Officer of the Richmond Metropolitan Transportation Authority.
A. The Authority shall adopt an annual budget and develop a funding plan and shall provide for such adoption in its bylaws. The funding plan shall provide for the expenditure of funds over a four-to-six-year period and shall align with the Statewide Transportation Plan established pursuant to § 33.2-353, the long-range transportation plan of Planning District 15, or the long-range transportation plans of participating localities as much as possible. The Authority shall solicit public comment on its budget and funding plan by posting a summary of such budget and funding plan on its website and holding a public hearing. Such public hearing shall be advertised on the Authority's website and in a newspaper of general circulation in Planning District 15.
B. The administrative and operating expenses of the Authority shall be provided in an annual budget adopted by the Authority and to the extent funds for such expenses are not provided from other sources shall be paid from the Fund. Such budget shall be limited solely to the administrative and operating expenses of the Authority and shall not include any funds for construction or acquisition of transportation facilities or the performance of any transportation service.
11. To the extent funds are made or become available to the Authority to do so, to employ employees, agents, advisors, and consultants, including without limitation attorneys, financial advisers, engineers, and other technical advisers and, the provisions of any other law to the contrary notwithstanding, to determine their duties and compensation; and
12. To the extent not inconsistent with the other provisions of this chapter, and without limiting or restricting the powers otherwise given the Authority, to exercise all of the powers given to transportation district commissions by § 33.2-1919.
No locality embraced by the Authority shall reduce its funding for public transit by more than 50 percent of what it appropriated for public transit as of June 30, 2019.