Commonwealth Tolling Assistance Program. Establishes a program that would allow certain low-income students to receive an electronic tolling transponder without paying a deposit. To be eligible, the student must attend a public institution of higher education in Virginia located within a planning district that is traversed by the Elizabeth River or the James River and that is adjacent to the Chesapeake Bay. Eligible students who receive the electronic tolling transponder may also submit toll receipts, on a quarterly basis, and receive reimbursement in their E-ZPass accounts. The bill is contingent upon an appropriation of General Funds effectuating the provisions of the bill.