16102284D
SENATE BILL NO. 46
Senate Amendments in [ ] -- February 4, 2016
A BILL to amend and reenact §33.2-1526 of the Code of
Virginia, relating to the Commonwealth Space Flight Fund; transfer of funds.
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Patrons Prior to Engrossment--Senators Carrico and Lewis
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Referred to Committee on Transportation
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Be it enacted by the General Assembly of Virginia:
1. That §33.2-1526 of the Code of Virginia is amended and
reenacted as follows:
§33.2-1526. Commonwealth Space Flight Fund, Commonwealth Port
Fund, Commonwealth Airport Fund, and Commonwealth Mass Transit Fund.
Of the funds becoming part of the Transportation Trust Fund
pursuant to subdivision 2 of §33.2-1524, an aggregate of 4.2 percent shall be
set aside as the Commonwealth Port Fund as established in subdivision A 2 of §
58.1-638; an aggregate of 2.4 percent shall be set aside as the Commonwealth
Airport Fund as established in subdivision A 3 of §58.1-638; and an aggregate
of 14.7 percent shall be set aside as the Commonwealth Mass Transit Fund as
established in subdivision A 4 of §58.1-638. Beginning with the Commonwealth's
2012-2013 fiscal year through the Commonwealth's 2016-2017 [ 2020-2021
2023-2024 ] fiscal year, each fiscal
year from the funds becoming part of the Transportation Trust Fund pursuant to
subdivision 2 of §33.2-1524 the Comptroller shall transfer [ $9.5
million $15.8 million ] to the Commonwealth
Space Flight Fund as established in subdivision A 3a of §58.1-638. The
remaining funds deposited into or held in the Transportation Trust Fund pursuant
to subdivision 2 of §33.2-1524, together with funds deposited pursuant to
subdivisions 1 and 4 of §33.2-1524, shall be expended for capital
improvements, including construction, reconstruction, maintenance, and
improvements of highways according to the provisions of subsection C or D of §
33.2-358 or to secure bonds issued for such purposes, as provided by the Board
and the General Assembly.
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