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Chief Patron: May
Item 449 #4h

Transportation
FY 08-09
FY 09-10
Department Of Rail And Public Transportation
$2,500,000
$0
GF

Language:
Page 399, line 1, strike "$274,607,254" and insert "$277,107,254".
Page 400, after line 42, insert:
"F. Included in this item is $2,500,000 the first year from the general fund for the Virginia Railway Express to assist in the development of an Insurance Trust Fund pursuant to the requirements of the Virginia Division of Risk Management."

Explanation:
(This amendment provides $2.5 million the first year from the general fund to match Virginia Railway Express (VRE) contributions toward the creation of an Insurance Trust Fund for VRE based on the requirements of the Virginia Division of Risk Management. The VRE has been asked to maintain a fund balance of $10.0 million. It has made contributions toward this fund of $750,000 in fiscal year 2006 and $1.0 million in fiscal year 2007 to accomplish this task, and will commit another $2.0 million in fiscal year 2008 to meet this goal.)

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