                                 CODE OF VIRGINIA

HAMPTON ROADS TRANSPORTATION FUND (§ 33.2-2600)

There is hereby created in the state treasury a special nonreverting fund for
Planning District 23 to be known as the Hampton Roads Transportation Fund,
referred to in this chapter as &#8220;the Fund.&#8221; 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, bridges, and tunnels in the localities
comprising Planning District 23 as approved by the Hampton Roads Transportation
Accountability Commission and (ii) administrative and operating expenses as
specified in subsection B of § 33.2-2605. The Commission shall give priority to
those projects that are expected to provide the greatest impact on reducing
congestion for the greatest number of citizens residing within Planning District
23 and shall ensure that the moneys shall be used for such construction
projects.
		The amounts dedicated to the Fund shall be deposited monthly by the
Comptroller into the Fund and thereafter distributed to the Commission as soon
as practicable for use in accordance with this chapter. If the Commission
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 Commission 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.
		The amounts deposited into the Fund and the distribution and expenditure of
such amounts shall not be used to calculate or reduce the share of federal,
state, or local revenues otherwise available to participating localities.
Further, such revenues and moneys shall not be included in any computation of,
or formula for, a locality&#8217;s ability to pay for public education, upon
which appropriations of state revenues to local governments for public education
are determined.

HISTORY: 2013, c. 766, § 33.1-23.5:4; 2014, cc. 545, 678, 805; 2016, cc. 603,
608.