VA HB583

Creates the Hampton Roads Interstate Highway Corridor Improvement Program and Fund to plan, finance, build, and maintain infrastructure improvements on highway corridors connected to or paralleling interstates in Planning District 23, including U.S. Routes 58 and 460

Establishes the Hampton Roads Highway Coastal Resilience Program and Fund to address transportation infrastructure at risk from recurrent and coastal flooding in the Hampton Roads region

Requires the Hampton Roads Transportation Accountability Commission to prioritize interstate corridor projects based on congestion mitigation, highway safety benefits, and project readiness, while considering Port of Virginia traffic impacts

Designates both funds as special nonreverting funds in the state treasury, with interest earnings remaining in their respective funds and monthly deposits by the Comptroller

Prohibits fund deposits and expenditures from being used to reduce federal, state, or local revenue shares or from affecting calculations for state education funding appropriations