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The Commonwealth Transportation Fund receives dedicated state and federal revenues. Estimated revenue for the fund provides for allocations in the Six-Year Financial Plan adopted by the CTB. The plan provides allocations for Virginia’s transportation program. The adopted budget of the CTB for the Commonwealth Transportation Fund includes the Transportation Trust Fund distribution to each of the modes: highways, transit, ports and airports.
Components of the Commonwealth Transportation Fund are provided to the Department of Rail and Public Transportation, the Virginia Port Authority and the Virginia Department of Aviation. Each of these agencies use the resources provided to accomplish their mission.
VDOT’s revenues provide funding for debt service, highway maintenance, agency administration and construction. The first priority, beyond debt service, is maintaining existing infrastructure to ensure the safety of the traveling public. This includes pavement repairs, structure maintenance and operational activities, such as traffic operations and snow removal. Once the other program allocations are provided for within the VDOT budget, the remaining funds are provided for allocation in the Six-Year Improvement Program. Special state taxes and fees collected in two regions of the state are directed to the Northern Virginia Transportation Authority and the Hampton Roads Transportation Accountability Commission for transportation improvements in those regions.
New Funding Formula (House Bill 1887)
House Bill 1887 modifies how the commonwealth distributes transportation revenue from the financial plan’s construction funding sources to maintain a State of Good Repair and address capital improvement needs.
The CTB prioritizes funding for State of Good Repair work to rehabilitate aging infrastructure based on bridge and paving needs.
SMART SCALE, the new prioritization system, determines how funds will be programmed to construction projects on a statewide and district level through two programs: High Priority Project Program and the Construction District Grant Program.