Virginia Legislators Hashing Out Debt-Free Transportation Proposal

Vadum, Matthew
January 2005
Bond Buyer;1/25/2005, Vol. 351 Issue 32056, p5
Trade Publication
The article reports that Virginia Senate Finance Committee chairman John Chichester, Republican from Fredericksburg, introduced a bill that would tap an estimated $381 million in automobile insurance premium tax revenue that flows into state coffers each year and use it for transportation-related projects, but the proposal does not call for bonds to be sold. Some observers had previously speculated that the bill, which Chichester introduced in the General Assembly by the filing deadline on Friday, might contain some debt authority.


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