Monday, May 12, 2008

Governor Kaine Floats Transportation Plan

Governor Kaine unveiled a Transportation Plan for Virginia today. Documents on it were issued at the Virginia Beach City Council's Strategic Planning Meeting, from which I have copies. The following figures are from them.

Statewide Maintenance would be augmented by an 1% Motor Vehicle Sales and Use Tax and an a 10% increase in the annual Registration Fee. That would raise $445.3 million in FY 2009, $512.6 million in FY 2014.

Hampton Roads would be hit with an 1% Retail Sales and Use Tax to pay for the MPO's six projects plus adding capacity at the Hampton Roads Bridge-Tunnel. That would generate $167.9 million in FY 2009, $227.1 million in FY 2014.

The Governor proposes a Transportation Change Fund, with 65% for Transit Capital and Operating costs, 10% for Rail Capital and Operating costs, 7.5% for Ports, 4% for Airports, and 13.5% for the Transportation Partnership Opportunity Fund. It would be paid for by a Grantor's Tax hike, bringing in $142 million in FY 2009, $155 million in FY 2014.

Overall, Kaine's Plan (including the Northern Virginia package) would increase Transportation funding by $859 million in FY 2009, $1,081.5 billion in FY 2014.


Michael Ragsdale said...

And I will be at the Town Hall meeting at the Convention Center (I'm getting a ride home from Pembroke East).

Michael Ragsdale said...

Unlike the House, I am all for this plan.