Code of Virginia (Last Updated:July 28, 2020) |
TITLE 33.2. Highways and Other Surface Transportation Systems |
SUBTITLE III. Transportation Funding and Development |
CHAPTER 15. Transportation Funding |
ARTICLE 5. Transportation Trust Fund |
SECTION 33.2-1524.1. Transportation Trust Fund |
There is hereby created in the Department of Treasury a special nonreverting fund to be known as the Transportation Trust Fund, consisting of funds distributed from the Commonwealth Transportation Fund pursuant to § 33.2-1524 . The revenues deposited pursuant to subdivision B 1 of § 33.2-1524 shall be distributed during the year to result in the following: 1. For construction programs pursuant to § 33.2-1524 , 53 percent; 2. To the Commonwealth Mass Transit Fund established pursuant to § 33.2-1524 , 23 percent; 3. To the Commonwealth Rail Fund established pursuant to § 33.2-1524 , 7.5 percent; 4. To the Commonwealth Port Fund established pursuant to § 33.2-1524 , 2.5 percent; 5. To the Commonwealth Aviation Fund established pursuant to § 33.2-1524 , 1.5 percent; 6. To the Commonwealth Space Flight Fund established pursuant to § 33.2-1524 , one percent; 7. To the Priority Transportation Fund established pursuant to § 33.2-1524 , 10.5 percent; and 8. To a special fund within the Commonwealth Transportation Fund in the state treasury, one percent to be used to meet the necessary expenses of the Department of Motor Vehicles. |