{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/15.2-5942.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/15.2-5942.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/15.2-5942.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/15.2-5942.html"}],"law_id":55989,"edition_id":1,"section_id":55989,"structure_id":13779,"section_number":"15.2-5942","catch_line":"Public hearings; notice; reports","history":"2020, cc. 538, 539.","full_text":"A\n\nAt least 30 days before (i) acquiring or entering into a lease involving a Facility Site and (ii) entering into a construction contract for a Facility, the Authority shall submit to the General Assembly a detailed written report and findings of the Authority on the proposed acquisition, lease, or contract. The report and findings shall include a detailed plan of the method of funding and the economic benefits of the proposal.B\n\nThe State Treasurer shall be provided with copies of (i) all documents relating to the proposed issuance of any bonds pursuant to § 15.2-5943 and (ii) all documents relating to a proposed acquisition, lease, or contract described in subsection A. Such copies shall be provided sufficiently in advance of such bond issuance or acquisition, lease, or contract to conduct such reviews as the State Treasurer deems necessary. Such reviews shall be completed within 60 days after the date that the Treasurer is provided such documents. In the event that the Commonwealth is an obligated person determined to be material to an evaluation of the offering for which financial information will be included or referenced in the offering document in accordance with Securities and Exchange Commission Rule 15c 2-12 under the federal Securities Exchange Act of 1934, or in the event that in the opinion of the State Treasurer, with the concurrence of the Debt Capacity Advisory Committee established under Article 5 (§ 2.2-2712 et seq.) of Chapter 27 of Title 2.2, such bond issue or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth, such bond issue or contractual obligation must be authorized by the General Assembly. Within 60 days of receiving the documents described in this subsection, the Treasurer shall deliver a written opinion to the Authority and participating localities regarding whether the bond issue or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth.","order_by":null,"text":{"0":{"id":205167,"text":"At least 30 days before (i) acquiring or entering into a lease involving a Facility Site and (ii) entering into a construction contract for a Facility, the Authority shall submit to the General Assembly a detailed written report and findings of the Authority on the proposed acquisition, lease, or contract. The report and findings shall include a detailed plan of the method of funding and the economic benefits of the proposal.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":205168,"text":"The State Treasurer shall be provided with copies of (i) all documents relating to the proposed issuance of any bonds pursuant to § 15.2-5943 and (ii) all documents relating to a proposed acquisition, lease, or contract described in subsection A. Such copies shall be provided sufficiently in advance of such bond issuance or acquisition, lease, or contract to conduct such reviews as the State Treasurer deems necessary. Such reviews shall be completed within 60 days after the date that the Treasurer is provided such documents. In the event that the Commonwealth is an obligated person determined to be material to an evaluation of the offering for which financial information will be included or referenced in the offering document in accordance with Securities and Exchange Commission Rule 15c 2-12 under the federal Securities Exchange Act of 1934, or in the event that in the opinion of the State Treasurer, with the concurrence of the Debt Capacity Advisory Committee established under Article 5 (§ 2.2-2712 et seq.) of Chapter 27 of Title 2.2, such bond issue or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth, such bond issue or contractual obligation must be authorized by the General Assembly. Within 60 days of receiving the documents described in this subsection, the Treasurer shall deliver a written opinion to the Authority and participating localities regarding whether the bond issue or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13779,"edition_id":1,"name":"Hampton Roads Regional Arena Authority","identifier":"59.3","label":"chapter","depth":3,"order_by":1,"parent_id":12721,"metadata":{},"date_created":"2026-06-26 03:45:51","date_modified":"2026-06-26 03:45:51","permalink":{"id":159857,"object_type":"structure","relational_id":13779,"identifier":"59.3","token":"15.2\/IV\/59.3","url":"\/15.2\/IV\/59.3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12721,"edition_id":1,"name":"Other Governmental Entities","identifier":"IV","label":"subtitle","depth":2,"order_by":1,"parent_id":12720,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":157897,"object_type":"structure","relational_id":12721,"identifier":"IV","token":"15.2\/IV","url":"\/15.2\/IV\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12720,"edition_id":1,"name":"Counties, Cities and Towns","identifier":"15.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":151279,"object_type":"structure","relational_id":12720,"identifier":"15.2","token":"15.2","url":"\/15.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":76720,"structure_id":13779,"section_number":"15.2-5935","catch_line":"Definitions","url":"\/15.2-5935\/","token":"15.2\/IV\/59.3\/15.2-5935","metadata":false},{"id":54788,"structure_id":13779,"section_number":"15.2-5936","catch_line":"Creation of Authority","url":"\/15.2-5936\/","token":"15.2\/IV\/59.3\/15.2-5936","metadata":false},{"id":86580,"structure_id":13779,"section_number":"15.2-5937","catch_line":"Members of Authority; chairman; terms","url":"\/15.2-5937\/","token":"15.2\/IV\/59.3\/15.2-5937","metadata":false},{"id":87439,"structure_id":13779,"section_number":"15.2-5938","catch_line":"Quorum; actions of Authority; meetings","url":"\/15.2-5938\/","token":"15.2\/IV\/59.3\/15.2-5938","metadata":false},{"id":79518,"structure_id":13779,"section_number":"15.2-5939","catch_line":"Executive Director appointment; duties","url":"\/15.2-5939\/","token":"15.2\/IV\/59.3\/15.2-5939","metadata":false},{"id":78623,"structure_id":13779,"section_number":"15.2-5940","catch_line":"Participation in the Authority by a Hampton Roads locality","url":"\/15.2-5940\/","token":"15.2\/IV\/59.3\/15.2-5940","metadata":false},{"id":76327,"structure_id":13779,"section_number":"15.2-5941","catch_line":"Powers","url":"\/15.2-5941\/","token":"15.2\/IV\/59.3\/15.2-5941","metadata":false},{"id":55989,"structure_id":13779,"section_number":"15.2-5942","catch_line":"Public hearings; notice; reports","url":"\/15.2-5942\/","token":"15.2\/IV\/59.3\/15.2-5942","metadata":false},{"id":84893,"structure_id":13779,"section_number":"15.2-5943","catch_line":"Bond issues","url":"\/15.2-5943\/","token":"15.2\/IV\/59.3\/15.2-5943","metadata":false},{"id":58767,"structure_id":13779,"section_number":"15.2-5944","catch_line":"Restrictions related to sports teams","url":"\/15.2-5944\/","token":"15.2\/IV\/59.3\/15.2-5944","metadata":false},{"id":80000,"structure_id":13779,"section_number":"15.2-5945","catch_line":"Facility Financing Fund; use","url":"\/15.2-5945\/","token":"15.2\/IV\/59.3\/15.2-5945","metadata":false},{"id":56144,"structure_id":13779,"section_number":"15.2-5946","catch_line":"Entitlement to tax revenues derived from the operation of a Facility","url":"\/15.2-5946\/","token":"15.2\/IV\/59.3\/15.2-5946","metadata":false},{"id":55135,"structure_id":13779,"section_number":"15.2-5947","catch_line":"Sharing of revenue among participating localities","url":"\/15.2-5947\/","token":"15.2\/IV\/59.3\/15.2-5947","metadata":false},{"id":68848,"structure_id":13779,"section_number":"15.2-5948","catch_line":"Tax revenues of the Commonwealth or any other political subdivision not pledged","url":"\/15.2-5948\/","token":"15.2\/IV\/59.3\/15.2-5948","metadata":false},{"id":69311,"structure_id":13779,"section_number":"15.2-5949","catch_line":"Expiration of entitlement to certain sales tax revenues","url":"\/15.2-5949\/","token":"15.2\/IV\/59.3\/15.2-5949","metadata":false}],"previous_section":{"id":76327,"structure_id":13779,"section_number":"15.2-5941","catch_line":"Powers","url":"\/15.2-5941\/","token":"15.2\/IV\/59.3\/15.2-5941","metadata":false},"next_section":{"id":84893,"structure_id":13779,"section_number":"15.2-5943","catch_line":"Bond issues","url":"\/15.2-5943\/","token":"15.2\/IV\/59.3\/15.2-5943","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/15.2-5942\/","history_text":"

This law was first created in 2020. The record of its establishment is cataloged in chapters 538<\/a> and 539<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":80000,"section_number":"15.2-5945","catch_line":"Facility Financing Fund; use","order_by":null,"url":"\/15.2-5945\/"},{"id":56144,"section_number":"15.2-5946","catch_line":"Entitlement to tax revenues derived from the operation of a Facility","order_by":null,"url":"\/15.2-5946\/"}],"refers_to":[{"id":84893,"section_number":"15.2-5943","catch_line":"Bond issues","order_by":null,"url":"\/15.2-5943\/"},{"id":79829,"section_number":"2.2-2712","catch_line":"Debt Capacity Advisory Committee; membership; terms; chairman; compensation; staff","order_by":null,"url":"\/2.2-2712\/"}],"permalink":{"id":159887,"object_type":"law","relational_id":55989,"identifier":"15.2-5942","token":"15.2\/IV\/59.3\/15.2-5942","url":"\/15.2-5942\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/15.2-5942\/","token":"15.2\/IV\/59.3\/15.2-5942","dublin_core":{"Title":"Public hearings; notice; reports","Type":"Text","Format":"text\/html","Identifier":"\u00a7 15.2-5942","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> At least 30 days before (i) acquiring or entering into a lease involving a Facility Site<\/span> and (ii) entering into a construction contract<\/span> for a Facility, the Authority<\/span> shall submit to the General Assembly a detailed written report and findings<\/span> of the Authority<\/span> on the proposed acquisition, lease, or contract<\/span>. The report and findings<\/span> shall include a detailed plan of the method of funding and the economic benefits of the proposal. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The State Treasurer shall be provided with copies of (i) all documents relating to the proposed issuance of any bonds<\/span> pursuant to § 15.2-5943<\/a> and (ii) all documents relating to a proposed acquisition, lease, or contract<\/span> described in subsection A. Such copies shall be provided sufficiently in advance of such bond<\/span> issuance or acquisition, lease, or contract<\/span> to conduct such reviews as the State Treasurer deems necessary. Such reviews shall be completed within 60 days after the date that the Treasurer is provided such documents. In the event that the Commonwealth is an obligated person determined to be material<\/span> to an evaluation of the offering for which financial information will be included or referenced in the offering document in accordance with Securities and Exchange Commission Rule 15c 2-12 under the federal Securities Exchange Act of 1934, or in the event that in the opinion<\/span> of the State Treasurer, with the concurrence of the Debt Capacity Advisory Committee established under Article 5 (§ 2.2-2712<\/a> et seq.) of Chapter 27 of Title 2.2, such bond<\/span> issue<\/span> or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth, such bond<\/span> issue<\/span> or contractual obligation must be authorized by the General Assembly. Within 60 days of receiving the documents described in this subsection, the Treasurer shall deliver a written opinion<\/span> to the Authority<\/span> and participating localities regarding whether the bond<\/span> issue<\/span> or contractual obligation will be considered tax-supported debt of the Commonwealth or have an adverse impact on the debt capacity or the credit ratings of the Commonwealth. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPUBLIC HEARINGS; NOTICE; REPORTS (\u00a7 15.2-5942)\n\nA. At least 30 days before (i) acquiring or entering into a lease involving a\nFacility Site and (ii) entering into a construction contract for a Facility, the\nAuthority shall submit to the General Assembly a detailed written report and\nfindings of the Authority on the proposed acquisition, lease, or contract. The\nreport and findings shall include a detailed plan of the method of funding and\nthe economic benefits of the proposal.\n\nB. The State Treasurer shall be provided with copies of (i) all documents\nrelating to the proposed issuance of any bonds pursuant to § 15.2-5943 and\n(ii) all documents relating to a proposed acquisition, lease, or contract\ndescribed in subsection A. Such copies shall be provided sufficiently in advance\nof such bond issuance or acquisition, lease, or contract to conduct such reviews\nas the State Treasurer deems necessary. Such reviews shall be completed within\n60 days after the date that the Treasurer is provided such documents. In the\nevent that the Commonwealth is an obligated person determined to be material to\nan evaluation of the offering for which financial information will be included\nor referenced in the offering document in accordance with Securities and\nExchange Commission Rule 15c 2-12 under the federal Securities Exchange Act of\n1934, or in the event that in the opinion of the State Treasurer, with the\nconcurrence of the Debt Capacity Advisory Committee established under Article 5\n(§ 2.2-2712 et seq.) of Chapter 27 of Title 2.2, such bond issue or\ncontractual obligation will be considered tax-supported debt of the Commonwealth\nor have an adverse impact on the debt capacity or the credit ratings of the\nCommonwealth, such bond issue or contractual obligation must be authorized by\nthe General Assembly. Within 60 days of receiving the documents described in\nthis subsection, the Treasurer shall deliver a written opinion to the Authority\nand participating localities regarding whether the bond issue or contractual\nobligation will be considered tax-supported debt of the Commonwealth or have an\nadverse impact on the debt capacity or the credit ratings of the Commonwealth.\n\nHISTORY: 2020, cc. 538, 539.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}