{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1500.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1500.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1500.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1500.html"}],"law_id":56384,"edition_id":1,"section_id":56384,"structure_id":13651,"section_number":"33.2-1500","catch_line":"Legislative findings and purposes","history":"2011, cc. 830, 868, \u00a7 33.1-23.6; 2014, c. 805.","full_text":"The General Assembly finds that there exists in the Commonwealth a critical need for additional sources of funding to finance the present and future needs of the Commonwealth for the design and construction of highways, including toll facilities; mass transit; freight, passenger and commuter rail, including rolling stock; and port, airport, and other transportation facilities. This need can be alleviated in part through the creation of a transportation infrastructure bank. The purpose of such bank is to encourage the investment of both public and private funds and to make loans and other financial assistance available to localities, private entities, and other eligible borrowers to finance eligible transportation projects. The General Assembly determines that the creation of a transportation infrastructure bank for this purpose is in the public interest, serves a public purpose, and will promote the health, safety, welfare, convenience, or prosperity of the people of the Commonwealth.","order_by":null,"text":{"0":{"id":206442,"text":"The General Assembly finds that there exists in the Commonwealth a critical need for additional sources of funding to finance the present and future needs of the Commonwealth for the design and construction of highways, including toll facilities; mass transit; freight, passenger and commuter rail, including rolling stock; and port, airport, and other transportation facilities. This need can be alleviated in part through the creation of a transportation infrastructure bank. The purpose of such bank is to encourage the investment of both public and private funds and to make loans and other financial assistance available to localities, private entities, and other eligible borrowers to finance eligible transportation projects. The General Assembly determines that the creation of a transportation infrastructure bank for this purpose is in the public interest, serves a public purpose, and will promote the health, safety, welfare, convenience, or prosperity of the people of the Commonwealth.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13651,"edition_id":1,"name":"Virginia Transportation Infrastructure Bank","identifier":"1","label":"article","depth":4,"order_by":1,"parent_id":13147,"metadata":{},"date_created":"2026-06-26 03:45:28","date_modified":"2026-06-26 03:45:28","permalink":{"id":206487,"object_type":"structure","relational_id":13651,"identifier":"1","token":"33.2\/III\/15\/1","url":"\/33.2\/III\/15\/1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13147,"edition_id":1,"name":"Transportation Funding","identifier":"15","label":"chapter","depth":3,"order_by":1,"parent_id":13146,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206485,"object_type":"structure","relational_id":13147,"identifier":"15","token":"33.2\/III\/15","url":"\/33.2\/III\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13146,"edition_id":1,"name":"Transportation Funding and Development","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12806,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206483,"object_type":"structure","relational_id":13146,"identifier":"III","token":"33.2\/III","url":"\/33.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12806,"edition_id":1,"name":"Highways and Other Surface Transportation Systems","identifier":"33.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":204785,"object_type":"structure","relational_id":12806,"identifier":"33.2","token":"33.2","url":"\/33.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56384,"structure_id":13651,"section_number":"33.2-1500","catch_line":"Legislative findings and purposes","url":"\/33.2-1500\/","token":"33.2\/III\/15\/1\/33.2-1500","metadata":false},{"id":62146,"structure_id":13651,"section_number":"33.2-1501","catch_line":"Definitions","url":"\/33.2-1501\/","token":"33.2\/III\/15\/1\/33.2-1501","metadata":false},{"id":83639,"structure_id":13651,"section_number":"33.2-1502","catch_line":"Creation of the Virginia Transportation Infrastructure Bank","url":"\/33.2-1502\/","token":"33.2\/III\/15\/1\/33.2-1502","metadata":false},{"id":66089,"structure_id":13651,"section_number":"33.2-1503","catch_line":"Eligibility and project selection","url":"\/33.2-1503\/","token":"33.2\/III\/15\/1\/33.2-1503","metadata":false},{"id":73129,"structure_id":13651,"section_number":"33.2-1504","catch_line":"Grants from the Commonwealth Transportation Board","url":"\/33.2-1504\/","token":"33.2\/III\/15\/1\/33.2-1504","metadata":false},{"id":74721,"structure_id":13651,"section_number":"33.2-1505","catch_line":"Project obligations","url":"\/33.2-1505\/","token":"33.2\/III\/15\/1\/33.2-1505","metadata":false},{"id":71556,"structure_id":13651,"section_number":"33.2-1506","catch_line":"Exemption from taxation; exemption from Virginia Public Procurement Act","url":"\/33.2-1506\/","token":"33.2\/III\/15\/1\/33.2-1506","metadata":false},{"id":54624,"structure_id":13651,"section_number":"33.2-1507","catch_line":" Reporting requirement","url":"\/33.2-1507\/","token":"33.2\/III\/15\/1\/33.2-1507","metadata":false}],"next_section":{"id":62146,"structure_id":13651,"section_number":"33.2-1501","catch_line":"Definitions","url":"\/33.2-1501\/","token":"33.2\/III\/15\/1\/33.2-1501","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1500\/","history_text":"

This law was first created in 2011. The record of its establishment is cataloged in chapters 830<\/a> and 868<\/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. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2014, chapter 805<\/a>.<\/p>","references":[{"id":72795,"section_number":"33.2-1524","catch_line":"Commonwealth Transportation Fund","order_by":null,"url":"\/33.2-1524\/"},{"id":54474,"section_number":"33.2-1529","catch_line":"Toll Facilities Revolving Account","order_by":null,"url":"\/33.2-1529\/"},{"id":57318,"section_number":"33.2-214","catch_line":"Transportation; Six-Year Improvement Program","order_by":null,"url":"\/33.2-214\/"}],"refers_to":false,"permalink":{"id":206489,"object_type":"law","relational_id":56384,"identifier":"33.2-1500","token":"33.2\/III\/15\/1\/33.2-1500","url":"\/33.2-1500\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1500\/","token":"33.2\/III\/15\/1\/33.2-1500","dublin_core":{"Title":"Legislative findings and purposes","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1500","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The General Assembly finds that there exists in the Commonwealth a critical need for additional sources of funding to finance<\/span> the present and future needs of the Commonwealth for the design and construction of highways<\/span>, including toll facilities; mass transit<\/span>; freight, passenger and commuter rail, including rolling stock; and port, airport, and other transportation facilities. This need can be alleviated in part through the creation of a transportation infrastructure bank<\/span>. The purpose of such bank<\/span> is to encourage the investment of both public and private funds and to make loans<\/span> and other financial assistance<\/span> available to localities, private entities, and other eligible borrowers<\/span> to finance<\/span> eligible transportation projects<\/span>. The General Assembly determines that the creation of a transportation infrastructure bank<\/span> for this purpose is in the public interest, serves a public purpose, and will promote the health, safety, welfare, convenience, or prosperity of the people of the Commonwealth.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLEGISLATIVE FINDINGS AND PURPOSES (\u00a7 33.2-1500)\n\nThe General Assembly finds that there exists in the Commonwealth a critical need\nfor additional sources of funding to finance the present and future needs of the\nCommonwealth for the design and construction of highways, including toll\nfacilities; mass transit; freight, passenger and commuter rail, including\nrolling stock; and port, airport, and other transportation facilities. This need\ncan be alleviated in part through the creation of a transportation\ninfrastructure bank. The purpose of such bank is to encourage the investment of\nboth public and private funds and to make loans and other financial assistance\navailable to localities, private entities, and other eligible borrowers to\nfinance eligible transportation projects. The General Assembly determines that\nthe creation of a transportation infrastructure bank for this purpose is in the\npublic interest, serves a public purpose, and will promote the health, safety,\nwelfare, convenience, or prosperity of the people of the Commonwealth.\n\nHISTORY: 2011, cc. 830, 868, \u00a7 33.1-23.6; 2014, c. 805.","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}}