{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1503.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1503.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1503.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1503.html"}],"law_id":66089,"edition_id":1,"section_id":66089,"structure_id":13651,"section_number":"33.2-1503","catch_line":"Eligibility and project selection","history":"2011, cc. 830, 868, \u00a7 33.1-23.9; 2014, c. 805; 2015, c. 684.","full_text":"A\n\nAny entity constituting an eligible borrower or other project sponsor is eligible to apply to the Board for project financing from the Bank.B\n\nAll applicants for a loan or other financial assistance must file an application with the Board, which must include all items determined by the Board in consultation with the manager to be necessary and appropriate for the Board to determine whether or not to approve the loan, including the availability of reliable repayment sources to retire the project obligation as well as creditworthiness.C\n\nEach applicant for a loan or other financial assistance must demonstrate that the project is of local, regional, or statewide significance and meets the public interest identified in subsection A of § 33.2-214.1. Another criterion to be considered is whether or not the loan or other financial assistance will enable the project to be completed at an earlier date than would otherwise be feasible. The Board shall issue guidelines for scoring projects in accordance with subsection B of § 33.2-214.1 and any other criteria deemed necessary and appropriate for evaluating projects as determined by the Board in consultation with the manager and shall apply the scoring guidelines to each proposed project. Further, the Board shall promptly publish each proposed project and its score using the scoring guidelines.D\n\nAll projects for which a loan or other financial assistance is provided must meet and remain in compliance with the policies and guidelines established by the Board and the manager.","order_by":null,"text":{"0":{"id":240098,"text":"Any entity constituting an eligible borrower or other project sponsor is eligible to apply to the Board for project financing from the Bank.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":240099,"text":"All applicants for a loan or other financial assistance must file an application with the Board, which must include all items determined by the Board in consultation with the manager to be necessary and appropriate for the Board to determine whether or not to approve the loan, including the availability of reliable repayment sources to retire the project obligation as well as creditworthiness.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":240100,"text":"Each applicant for a loan or other financial assistance must demonstrate that the project is of local, regional, or statewide significance and meets the public interest identified in subsection A of § 33.2-214.1. Another criterion to be considered is whether or not the loan or other financial assistance will enable the project to be completed at an earlier date than would otherwise be feasible. The Board shall issue guidelines for scoring projects in accordance with subsection B of § 33.2-214.1 and any other criteria deemed necessary and appropriate for evaluating projects as determined by the Board in consultation with the manager and shall apply the scoring guidelines to each proposed project. Further, the Board shall promptly publish each proposed project and its score using the scoring guidelines.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":240101,"text":"All projects for which a loan or other financial assistance is provided must meet and remain in compliance with the policies and guidelines established by the Board and the manager.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"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}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1503\/","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 2 times. 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. Those modifications are as follows: in 2014, chapter 805<\/a>; in 2015, chapter 684<\/a>.<\/p>","references":[{"id":62146,"section_number":"33.2-1501","catch_line":"Definitions","order_by":null,"url":"\/33.2-1501\/"}],"refers_to":[{"id":71998,"section_number":"33.2-214.1","catch_line":"Statewide prioritization process for project selection","order_by":null,"url":"\/33.2-214.1\/"}],"permalink":{"id":206501,"object_type":"law","relational_id":66089,"identifier":"33.2-1503","token":"33.2\/III\/15\/1\/33.2-1503","url":"\/33.2-1503\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1503\/","token":"33.2\/III\/15\/1\/33.2-1503","dublin_core":{"Title":"Eligibility and project selection","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1503","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Any entity constituting an eligible borrower<\/span> or other project sponsor<\/span> is eligible to apply to the Board<\/span> for project financing from the Bank<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> All applicants for a loan<\/span> or other financial assistance<\/span> must file an application with the Board<\/span>, which must include all items determined by the Board<\/span> in consultation with the manager<\/span> to be necessary and appropriate for the Board<\/span> to determine whether or not to approve the loan<\/span>, including the availability of reliable repayment sources<\/span> to retire the project obligation<\/span> as well as creditworthiness<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Each applicant for a loan<\/span> or other financial assistance<\/span> must demonstrate that the project is of local, regional, or statewide significance and meets the public interest identified in subsection A of § 33.2-214.1<\/a>. Another criterion to be considered is whether or not the loan<\/span> or other financial assistance<\/span> will enable the project to be completed at an earlier date than would otherwise be feasible. The Board<\/span> shall issue<\/span> guidelines for scoring projects<\/span> in accordance with subsection B of § 33.2-214.1<\/a> and any other criteria deemed necessary and appropriate for evaluating projects<\/span> as determined by the Board<\/span> in consultation with the manager<\/span> and shall apply the scoring guidelines to each proposed project. Further, the Board<\/span> shall promptly publish each proposed project and its score using the scoring guidelines. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> All projects<\/span> for which a loan<\/span> or other financial assistance<\/span> is provided must meet and remain in compliance with the policies and guidelines established by the Board<\/span> and the manager<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nELIGIBILITY AND PROJECT SELECTION (\u00a7 33.2-1503)\n\nA. Any entity constituting an eligible borrower or other project sponsor is\neligible to apply to the Board for project financing from the Bank.\n\nB. All applicants for a loan or other financial assistance must file an\napplication with the Board, which must include all items determined by the Board\nin consultation with the manager to be necessary and appropriate for the Board\nto determine whether or not to approve the loan, including the availability of\nreliable repayment sources to retire the project obligation as well as\ncreditworthiness.\n\nC. Each applicant for a loan or other financial assistance must demonstrate that\nthe project is of local, regional, or statewide significance and meets the\npublic interest identified in subsection A of § 33.2-214.1. Another\ncriterion to be considered is whether or not the loan or other financial\nassistance will enable the project to be completed at an earlier date than would\notherwise be feasible. The Board shall issue guidelines for scoring projects in\naccordance with subsection B of § 33.2-214.1 and any other criteria deemed\nnecessary and appropriate for evaluating projects as determined by the Board in\nconsultation with the manager and shall apply the scoring guidelines to each\nproposed project. Further, the Board shall promptly publish each proposed\nproject and its score using the scoring guidelines.\n\nD. All projects for which a loan or other financial assistance is provided must\nmeet and remain in compliance with the policies and guidelines established by\nthe Board and the manager.\n\nHISTORY: 2011, cc. 830, 868, \u00a7 33.1-23.9; 2014, c. 805; 2015, c. 684.","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}}