Summary as introduced:
Dedication, distribution, and management of transportation maintenance and construction funds. Renames the Commonwealth Transit Capital Fund the Transit Partnership Fund and extends the present matching requirements to at least 20 percent of the nonfederal share of the total project cost to cover both project and program costs. The bill establishes the Private Partnership Fund as a nonreverting fund whose proceeds are to make loans in furtherance of projects under the Public-Private Transportation Act of 1995 and establishes the Local Partnership Fund to be used by the Department of Transportation to encourage local management of construction and improvement projects in the state primary, urban, and secondary highway systems. The bill also renames the Railway Preservation and Development Fund the Rail Partnership Fund, and eliminates the present requirement that projects undertaken using the Fund be owned by the Commonwealth upon completion and, instead, limits Fund projects to those that the Director of the Department of Rail and Public Transportation determines will result in public benefits to Virginia that are equal to or greater than the funds required.
The bill establishes the nine-member Rail Advisory Board to develop recommendations to be presented to the Commonwealth Transportation Board regarding allocations of funds from the Rail Partnership Fund and advise the Director and the Department of Rail and Public Transportation on other matters at their request.
Finally, it also allows "operators" and "responsible public entities," in lieu of entering into comprehensive agreements under the Public-Private Transportation Act of 1995, to enter into development agreements under the terms of which the operator would perform work and receive compensation therefor without committing either party to completing the entire course of improvements otherwise contained in a comprehensive agreement. Finally, the bill requires the Commonwealth Transportation Board to ensure that funds allocated to any construction project are fully allocated and paid off no later than 12 months following completion of the project.Full text:
01/12/05 House: Presented & ordered printed 053511124 pdf | impact statement
01/12/05 House: Presented & ordered printed 053511124
01/12/05 House: Referred to Committee on Transportation
02/01/05 House: Reported from Tra. w/sub (21-Y 0-N)
02/01/05 House: Referred to Committee on Appropriations
02/02/05 House: Incorporated by App. (HB2771-Callahan) by voice vote