HB 571

Central Virginia Transportation Fund; distribution of funds; Bay Transit. Distributes two percent of certain funds from the Central Virginia Transportation Fund to Bay Transit of New Kent and Charles City (Bay Transit) and reduces from 15 to 13 percent the amount of such funds distributed to the Greater Richmond Transit Company. The bill prohibits the distribution of funds to Bay Transit unless the Central Virginia Transportation Authority first enters into an agreement with Bay Transit for the distribution of such funds. The bill also provides that, for any year in which no such agreement exists, such funds be distributed to the Greater Richmond Transit Company.