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AGENDA ITEM #6 GENERAL ASSEMBLY BUDGET ACTIONS

AGENDA ITEM #6 GENERAL ASSEMBLY BUDGET ACTIONS. -MARCH 3, 2005-. TOTAL NEW TRANSPORTATION FUNDING:. $848.1 MILLION ($189 MILLION RECURRING). 2. ONE-TIME NEW FUNDING FOR NVTC TRANSIT IN FY 2006:. $40 million for Metro railcars (80% state share) $20 million for VRE railcars

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AGENDA ITEM #6 GENERAL ASSEMBLY BUDGET ACTIONS

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  1. AGENDA ITEM #6GENERAL ASSEMBLY BUDGET ACTIONS -MARCH 3, 2005-

  2. TOTAL NEW TRANSPORTATION FUNDING: $848.1 MILLION ($189 MILLION RECURRING) 2

  3. ONE-TIME NEW FUNDING FOR NVTC TRANSIT IN FY 2006: • $40 million for Metro railcars (80% state share) • $20 million for VRE railcars (80% state share) • Share of $5 million statewide bus purchases (80% state share): Estimate $1.5 million 3

  4. $20.7 million Estimate 14.7 percent for transit 65 % for NVTC $13.5 million = X • Share of $141.1 million TTF formula allocations (up to 95 percent state share): [Note: There is some concern about the intent of the budget language.] 4

  5. Share of $23.2 million rail fund (100% state): Guess $10 million for Gainesville/Haymarket extension. • $50 million for Public Private Partnerships (100% state loan share): Guess $2 million for HOV/transit improvements on Beltway and/or I-95 projects. 5

  6. Accelerated transfer of sales taxes adds $3.9 million more to MTF: Estimate about $2.0million for NVTC. • $50 million revenue sharing (50% state share), some of which has been used for transit (e.g. Route 1 improvements in Fairfax County): Guess $2.5 million.

  7. ESTIMATED GRAND TOTAL: About $91.5 million in a range of $77 to $105 million. 7

  8. POSSIBLE OFFSETS TO ADDED NVTC REVENUE • $500.5 million of $848.1 million is funded from growth in state and federal revenues. To the extent that state revenues that would have gone into the TTF were used to fund the new earmarks and programs, NVTC would have received about 65% of 14.7% (10%) anyway, or $50 million of $500 million (assuming all growth is state funds). More details are expected at a March CTB briefing. 8

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