Airport Capital Program
The Code of Virginia §58.1-638 Disposition of state sales and use tax revenue created in the Department of the Treasury a special non-reverting fund which is part of the Transportation Trust Fund and is known as the Commonwealth Airport Fund (CAF). The Commonwealth Transportation Board per §58.1-638 annually allocates 2.4 percent of the Transportation Trust Fund for the CAF. These funds are allocated by the Commonwealth Transportation Board to the Virginia Aviation Board (VAB). Funds are then allocated by the VAB to any Virginia airport which is owned by the Commonwealth, a governmental subdivision thereof, or a private entity to which the public has access for the purposes enumerated in Code of Virginia §5.1-2.16 or is owned or leased by the Metropolitan Washington Airports Authority.
The Airport Capital Program utilizes the CAF, through entitlement and discretionary funds, to provide funding for planning and engineering projects that focus on airport facility development. In general, these projects include master plan and airport layout plan studies, environmental studies, land acquisition, airside facility design and construction, and terminal building design and construction.