Virginia Republican Gives Up on Transportation Bond Plan

Vadum, Matthew
January 2005
Bond Buyer;1/26/2005, Vol. 351 Issue 32057, p3
Trade Publication
This article reports that Virginia House Appropriations Committee chairman Vincent F. Callahan has dropped his proposal that the state issue revenue bonds backed by insurance premium taxes to help finance transportation programs. With Callahan's bond proposal now out of the picture, there are competing transportation plans pending in the legislature, but none of them is likely to lead to much bond issuance. Senate Finance Committee chairman John Chichester, R-Fredericksburg, introduced a bill last week that beginning July 1, 2006, would tap all of the insurance premium tax receipts for pay-as-you-go transportation projects.


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