Source: https://law.lis.virginia.gov/vacode/title33.2/chapter34/section33.2-3404/
Timestamp: 2020-02-24 14:53:13
Document Index: 333651248

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

§ 33.2-3404. Local transportation support for WMATA
Table of Contents » Title 33.2. Highways and Other Surface Transportation Systems » Subtitle IV. Local and Regional Transportation » Chapter 34. Washington Metropolitan Area Transit Authority Capital Fund » § 33.2-3404. Local transportation support for WMATA
Chapter 34. Washington Metropolitan Area Transit Authority Capital Fund
§ 33.2-3404. Local transportation support for WMATA.
A. Each county or city that (i) is located in a transportation district that as of January 1, 2018, meets the criteria established in § 33.2-1936 and (ii) has financial obligations to a transit system that operates a rapid heavy rail mass transit system operating on an exclusive right-of-way that is funded and controlled in part by such transportation district shall annually pay to the Fund an amount as determined by subsection B.
B. The amount to be paid by each local government pursuant to subsection A shall be determined by multiplying $27.12 million by a fraction the numerator of which shall be such local government's share of capital funding for WMATA and the denominator of which shall be the total share of capital funding for WMATA for all local governments in the Commonwealth.
C. A locality subject to subsection A shall pay the amount determined by subsection B by transferring a portion of the revenues received pursuant to subsection B of § 33.2-2510 to the Fund. However, in any fiscal year in which a locality subject to subsection A has adopted a budget and a corresponding resolution to provide the amount of funds determined pursuant to subsection B from a source other than the revenues received pursuant to subsection B of § 33.2-2510, such locality may provide the funds for that fiscal year from such other source, and shall not be required to transfer funds received pursuant to subdivision B of § 33.2-2510.