Government Affairs

General Assembly Update

January 28, 2011

The Governor’s transportation funding bills are moving through the General Assembly. Though they are not a long term sustainable solution, they will provide $4 billion for 900 projects across the Commonwealth:

House Bill 2527/Senate Bill 1446

• Create the “Virginia Transportation Infrastructure Bank” (VTIB) to multiply transportation dollars through loans. The bank will be initially capitalized with $150 million from the 2010 budget surplus and $250 million from VDOT audit-identified funds. The bank will reach $1 billion total during the McDonnell Administration.
• Modify Virginia Code to authorize Direct GARVEE bonds. This would allow the Commonwealth to issue up to $1.1 billion in direct GARVEE bonds and utilize toll credits for state match.
• Accelerate the sales of bonds from 2007 transportation legislation to a maximum of $600 million per year, providing ability to issue up to $1.8 billion in bonds during remainder of the Administration.
• Increase the availability of revenue sharing, specifically eliminating the $1 million cap per project and $50 million program maximum.

Both of the funding bills will be heard and voted on next week!  The construction industry strongly supports HB2527 and SB1446, and we need your help. We are asking that as many of your company’s personnel as possible join us on Monday, January 31st at the General Assembly Building to visit your legislators. Go by their office and ask to meet with them. Ask them to support the Governor’s transportation funding plan. Tell them about your company and why the funding is important to you. It is as easy as that. We need to “pack the house!” All of this activity will take place in the General Assembly Office Building on the corner of 9th and Broad Streets in Richmond beginning at 9 a.m. Please feel free to wear your hard hat! Spend the morning visiting your Senator(s) and Delegates(s) and then join us in the Darden Garden (just outside the General Assembly Building on the way to the Capitol) to “greet” legislators as they walk to the Capitol for the caucus meetings and session.

Need to know who your legislators are? Go to: Who’s My Legislator?

Need contact information for your legislator? Go to: Senate and House