2/14/03-A Virginia Senate panel killed a measure that would have raised more money for transportation projects.
The bill was the last major road-funding proposal before the General Assembly to improve the state's transportation system.
HB2750, approved by the House of Delegates, would have allowed the state to borrow up to $1 billion over four years for road and transit projects statewide. The debt would have been repaid with revenue from a state tax on vehicle insurance premiums.
Senate Finance Committee members said it would have added to the state debt at a time when Virginia is trying to correct a $1.2 billion imbalance in its two-year, $50 billion budget.