{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1525.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1525.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1525.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1525.html"}],"law_id":54699,"edition_id":1,"section_id":54699,"structure_id":13148,"section_number":"33.2-1525","catch_line":"Administration of Transportation Trust Fund","history":"1986, Sp. Sess., c. 13, \u00a7\u00a7 33.1-23.03:5, 33.1-23.03:7; 2013, cc. 585, 646; 2014, c. 805; 2016, cc. 603, 608; 2025, cc. 455, 471.","full_text":"A\n\nThe Transportation Trust Fund shall be established on the books of the Comptroller so as to segregate the amounts appropriated to the Transportation Trust Fund and the amounts earned or accumulated by such Transportation Trust Fund. No portion of the Transportation Trust Fund shall be used for a purpose other than as provided in this section. Any moneys remaining in the Transportation Trust Fund at the end of a biennium shall not revert to the general fund but shall remain in the Transportation Trust Fund to be used for the purposes set forth in §§ 33.2-1524, 33.2-1526, and 33.2-1529 and shall accumulate interest and dividends throughout the existence of the Transportation Trust Fund. Whenever in the Board’s opinion there are moneys in the Transportation Trust Fund in excess of the amount required to meet the current needs and demands of the transportation program, the Board may invest such excess funds in securities that, in its judgment, will be readily convertible into money. Such securities may include debentures and other government and corporate obligations; common and preferred stocks limited to 30 percent of total trust funds investments based on cost; “prime quality” commercial paper, as defined and limited by § 2.2-4502; bankers’ acceptances; bonds; money market funds; and overnight, term, and open repurchase agreements. The investment of moneys held in the Transportation Trust Fund shall be administered by the state treasury under guidelines adopted by the Board pursuant to this section.\n\t\t\tThe Treasurer may, at his option, manage such moneys or hire professional outside investment counsel to manage part or all of such moneys.\n\t\t\tThe selection of services related to the management, purchase, or sale of authorized investments shall be governed by the standard provided in this section and shall not be subject to the provisions of Chapter 43 (§ 2.2-4300 et seq.) of Title 2.2.B\n\nWhen investments are made in accordance with this section, no member of the Board, Northern Virginia Transportation Authority, Central Virginia Transportation Authority, or Hampton Roads Transportation Accountability Commission; employee of the Board, Northern Virginia Transportation Authority, Central Virginia Transportation Authority, Hampton Roads Transportation Accountability Commission, Department of Transportation, or Department of Rail and Public Transportation; or treasury official shall be personally liable for any loss therefrom in the absence of negligence, malfeasance, misfeasance, or nonfeasance. Such limitation on personal liability shall extend to an individual’s actions taken while serving on or employed by such entities, even if such individual no longer serves on or is employed by any such entity.","order_by":null,"text":{"0":{"id":200809,"text":"The Transportation Trust Fund shall be established on the books of the Comptroller so as to segregate the amounts appropriated to the Transportation Trust Fund and the amounts earned or accumulated by such Transportation Trust Fund. No portion of the Transportation Trust Fund shall be used for a purpose other than as provided in this section. Any moneys remaining in the Transportation Trust Fund at the end of a biennium shall not revert to the general fund but shall remain in the Transportation Trust Fund to be used for the purposes set forth in §§ 33.2-1524, 33.2-1526, and 33.2-1529 and shall accumulate interest and dividends throughout the existence of the Transportation Trust Fund. Whenever in the Board’s opinion there are moneys in the Transportation Trust Fund in excess of the amount required to meet the current needs and demands of the transportation program, the Board may invest such excess funds in securities that, in its judgment, will be readily convertible into money. Such securities may include debentures and other government and corporate obligations; common and preferred stocks limited to 30 percent of total trust funds investments based on cost; “prime quality” commercial paper, as defined and limited by § 2.2-4502; bankers’ acceptances; bonds; money market funds; and overnight, term, and open repurchase agreements. The investment of moneys held in the Transportation Trust Fund shall be administered by the state treasury under guidelines adopted by the Board pursuant to this section.\n\t\t\tThe Treasurer may, at his option, manage such moneys or hire professional outside investment counsel to manage part or all of such moneys.\n\t\t\tThe selection of services related to the management, purchase, or sale of authorized investments shall be governed by the standard provided in this section and shall not be subject to the provisions of Chapter 43 (§ 2.2-4300 et seq.) of Title 2.2.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":200810,"text":"When investments are made in accordance with this section, no member of the Board, Northern Virginia Transportation Authority, Central Virginia Transportation Authority, or Hampton Roads Transportation Accountability Commission; employee of the Board, Northern Virginia Transportation Authority, Central Virginia Transportation Authority, Hampton Roads Transportation Accountability Commission, Department of Transportation, or Department of Rail and Public Transportation; or treasury official shall be personally liable for any loss therefrom in the absence of negligence, malfeasance, misfeasance, or nonfeasance. Such limitation on personal liability shall extend to an individual’s actions taken while serving on or employed by such entities, even if such individual no longer serves on or is employed by any such entity.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":13148,"edition_id":1,"name":"Transportation Trust Fund","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":13147,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":206595,"object_type":"structure","relational_id":13148,"identifier":"5","token":"33.2\/III\/15\/5","url":"\/33.2\/III\/15\/5\/","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":72795,"structure_id":13148,"section_number":"33.2-1524","catch_line":"Commonwealth Transportation Fund","url":"\/33.2-1524\/","token":"33.2\/III\/15\/5\/33.2-1524","metadata":false},{"id":77204,"structure_id":13148,"section_number":"33.2-1524.1","catch_line":"Transportation Trust Fund","url":"\/33.2-1524.1\/","token":"33.2\/III\/15\/5\/33.2-1524.1","metadata":false},{"id":54699,"structure_id":13148,"section_number":"33.2-1525","catch_line":"Administration of Transportation Trust Fund","url":"\/33.2-1525\/","token":"33.2\/III\/15\/5\/33.2-1525","metadata":false},{"id":65252,"structure_id":13148,"section_number":"33.2-1526","catch_line":"Commonwealth Mass Transit Fund","url":"\/33.2-1526\/","token":"33.2\/III\/15\/5\/33.2-1526","metadata":false},{"id":56022,"structure_id":13148,"section_number":"33.2-1526.1","catch_line":"Use of the Commonwealth Mass Transit Fund","url":"\/33.2-1526.1\/","token":"33.2\/III\/15\/5\/33.2-1526.1","metadata":false},{"id":86224,"structure_id":13148,"section_number":"33.2-1526.2","catch_line":"Commonwealth Transit Capital Fund","url":"\/33.2-1526.2\/","token":"33.2\/III\/15\/5\/33.2-1526.2","metadata":false},{"id":69870,"structure_id":13148,"section_number":"33.2-1526.3","catch_line":"Transit Ridership Incentive Program","url":"\/33.2-1526.3\/","token":"33.2\/III\/15\/5\/33.2-1526.3","metadata":false},{"id":75211,"structure_id":13148,"section_number":"33.2-1526.4","catch_line":"Commonwealth Rail Fund","url":"\/33.2-1526.4\/","token":"33.2\/III\/15\/5\/33.2-1526.4","metadata":false},{"id":76515,"structure_id":13148,"section_number":"33.2-1526.5","catch_line":"Commonwealth Port Fund","url":"\/33.2-1526.5\/","token":"33.2\/III\/15\/5\/33.2-1526.5","metadata":false},{"id":54172,"structure_id":13148,"section_number":"33.2-1526.6","catch_line":"Commonwealth Aviation Fund","url":"\/33.2-1526.6\/","token":"33.2\/III\/15\/5\/33.2-1526.6","metadata":false},{"id":57624,"structure_id":13148,"section_number":"33.2-1526.7","catch_line":"Commonwealth Space Flight Fund","url":"\/33.2-1526.7\/","token":"33.2\/III\/15\/5\/33.2-1526.7","metadata":false},{"id":64458,"structure_id":13148,"section_number":"33.2-1527","catch_line":"Priority Transportation Fund","url":"\/33.2-1527\/","token":"33.2\/III\/15\/5\/33.2-1527","metadata":false},{"id":63983,"structure_id":13148,"section_number":"33.2-1528","catch_line":"Concession Payments Account","url":"\/33.2-1528\/","token":"33.2\/III\/15\/5\/33.2-1528","metadata":false},{"id":54474,"structure_id":13148,"section_number":"33.2-1529","catch_line":"Toll Facilities Revolving Account","url":"\/33.2-1529\/","token":"33.2\/III\/15\/5\/33.2-1529","metadata":false},{"id":65952,"structure_id":13148,"section_number":"33.2-1529.1","catch_line":"Transportation Partnership Opportunity Fund","url":"\/33.2-1529.1\/","token":"33.2\/III\/15\/5\/33.2-1529.1","metadata":false}],"previous_section":{"id":77204,"structure_id":13148,"section_number":"33.2-1524.1","catch_line":"Transportation Trust Fund","url":"\/33.2-1524.1\/","token":"33.2\/III\/15\/5\/33.2-1524.1","metadata":false},"next_section":{"id":65252,"structure_id":13148,"section_number":"33.2-1526","catch_line":"Commonwealth Mass Transit Fund","url":"\/33.2-1526\/","token":"33.2\/III\/15\/5\/33.2-1526","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1525\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 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 2013, chapters 585<\/a> and 646<\/a>; in 2014, chapter 805<\/a>; in 2016, chapters 603<\/a> and 608<\/a>; in 2025, chapters 455<\/a> and 471<\/a>.<\/p>","references":[{"id":64456,"section_number":"33.2-2509","catch_line":"Northern Virginia Transportation Authority Fund","order_by":null,"url":"\/33.2-2509\/"},{"id":59740,"section_number":"33.2-2600","catch_line":"Hampton Roads Transportation Fund","order_by":null,"url":"\/33.2-2600\/"},{"id":75408,"section_number":"33.2-2600.1","catch_line":"Hampton Roads Regional Transit Program and Fund","order_by":null,"url":"\/33.2-2600.1\/"},{"id":78646,"section_number":"33.2-3500","catch_line":"Commuter Rail Operating and Capital Fund","order_by":null,"url":"\/33.2-3500\/"},{"id":85543,"section_number":"33.2-3701","catch_line":"Central Virginia Transportation Fund","order_by":null,"url":"\/33.2-3701\/"}],"refers_to":[{"id":70034,"section_number":"2.2-4300","catch_line":"Short title; purpose; declaration of intent","order_by":null,"url":"\/2.2-4300\/"},{"id":57079,"section_number":"2.2-4502","catch_line":"Investment of funds of Commonwealth, political subdivisions, and public bodies in \"prime quality\" commercial paper","order_by":null,"url":"\/2.2-4502\/"},{"id":72795,"section_number":"33.2-1524","catch_line":"Commonwealth Transportation Fund","order_by":null,"url":"\/33.2-1524\/"},{"id":65252,"section_number":"33.2-1526","catch_line":"Commonwealth Mass Transit Fund","order_by":null,"url":"\/33.2-1526\/"},{"id":54474,"section_number":"33.2-1529","catch_line":"Toll Facilities Revolving Account","order_by":null,"url":"\/33.2-1529\/"}],"permalink":{"id":206605,"object_type":"law","relational_id":54699,"identifier":"33.2-1525","token":"33.2\/III\/15\/5\/33.2-1525","url":"\/33.2-1525\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1525\/","token":"33.2\/III\/15\/5\/33.2-1525","dublin_core":{"Title":"Administration of Transportation Trust Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1525","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Transportation Trust Fund shall be established on the books of the Comptroller so as to segregate the amounts appropriated to the Transportation Trust Fund and the amounts earned or accumulated by such Transportation Trust Fund. No portion of the Transportation Trust Fund shall be used for a purpose other than as provided in this section. Any moneys remaining in the Transportation Trust Fund at the end of a biennium shall not revert to the general fund but shall remain in the Transportation Trust Fund to be used for the purposes set forth in §§ 33.2-1524<\/a>, 33.2-1526<\/a>, and 33.2-1529<\/a> and shall accumulate interest and dividends throughout the existence of the Transportation Trust Fund. Whenever in the Board<\/span>’s opinion<\/span> there are moneys in the Transportation Trust Fund in excess of the amount required to meet the current needs and demands of the transportation program, the Board<\/span> may invest such excess funds in securities that, in its judgment<\/span>, will be readily convertible into money. Such securities may include debentures and other government and corporate obligations; common and preferred stocks limited to 30 percent of total trust funds investments based on cost; “prime quality” commercial paper, as defined and limited by § 2.2-4502<\/a>; bankers’ acceptances; bonds<\/span>; money market funds; and overnight, term, and open repurchase agreements. The investment of moneys held in the Transportation Trust Fund shall be administered by the state treasury under guidelines adopted by the Board<\/span> pursuant to this section.\n\t\t\tThe Treasurer may, at his option, manage such moneys or hire professional outside investment counsel<\/span> to manage part or all of such moneys.\n\t\t\tThe selection of services related to the management, purchase, or sale of authorized investments shall be governed by the standard provided in this section and shall not be subject to the provisions of Chapter 43 (§ 2.2-4300<\/a> et seq.) of Title 2.2. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> When investments are made in accordance with this section, no member of the Board<\/span>, Northern Virginia Transportation Authority, Central Virginia Transportation Authority, or Hampton Roads Transportation Accountability Commission; employee of the Board<\/span>, Northern Virginia Transportation Authority, Central Virginia Transportation Authority, Hampton Roads Transportation Accountability Commission, Department<\/span> of Transportation, or Department<\/span> of Rail and Public Transportation<\/span>; or treasury official shall be personally liable for any loss therefrom in the absence of negligence<\/span>, malfeasance, misfeasance, or nonfeasance. Such limitation on personal liability shall extend to an individual’s actions taken while serving on or employed by such entities, even if such individual no longer serves on or is employed by any such entity. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nADMINISTRATION OF TRANSPORTATION TRUST FUND (\u00a7 33.2-1525)\n\nA. The Transportation Trust Fund shall be established on the books of the\nComptroller so as to segregate the amounts appropriated to the Transportation\nTrust Fund and the amounts earned or accumulated by such Transportation Trust\nFund. No portion of the Transportation Trust Fund shall be used for a purpose\nother than as provided in this section. Any moneys remaining in the\nTransportation Trust Fund at the end of a biennium shall not revert to the\ngeneral fund but shall remain in the Transportation Trust Fund to be used for\nthe purposes set forth in §§ 33.2-1524, 33.2-1526, and 33.2-1529 and\nshall accumulate interest and dividends throughout the existence of the\nTransportation Trust Fund. Whenever in the Board’s opinion there are\nmoneys in the Transportation Trust Fund in excess of the amount required to meet\nthe current needs and demands of the transportation program, the Board may\ninvest such excess funds in securities that, in its judgment, will be readily\nconvertible into money. Such securities may include debentures and other\ngovernment and corporate obligations; common and preferred stocks limited to 30\npercent of total trust funds investments based on cost; “prime\nquality” commercial paper, as defined and limited by § 2.2-4502;\nbankers’ acceptances; bonds; money market funds; and overnight, term, and\nopen repurchase agreements. The investment of moneys held in the Transportation\nTrust Fund shall be administered by the state treasury under guidelines adopted\nby the Board pursuant to this section.\n\t\t\tThe Treasurer may, at his option, manage such moneys or hire professional\noutside investment counsel to manage part or all of such moneys.\n\t\t\tThe selection of services related to the management, purchase, or sale of\nauthorized investments shall be governed by the standard provided in this\nsection and shall not be subject to the provisions of Chapter 43 (§\n2.2-4300 et seq.) of Title 2.2.\n\nB. When investments are made in accordance with this section, no member of the\nBoard, Northern Virginia Transportation Authority, Central Virginia\nTransportation Authority, or Hampton Roads Transportation Accountability\nCommission; employee of the Board, Northern Virginia Transportation Authority,\nCentral Virginia Transportation Authority, Hampton Roads Transportation\nAccountability Commission, Department of Transportation, or Department of Rail\nand Public Transportation; or treasury official shall be personally liable for\nany loss therefrom in the absence of negligence, malfeasance, misfeasance, or\nnonfeasance. Such limitation on personal liability shall extend to an\nindividual’s actions taken while serving on or employed by such entities,\neven if such individual no longer serves on or is employed by any such entity.\n\nHISTORY: 1986, Sp. Sess., c. 13, \u00a7\u00a7 33.1-23.03:5, 33.1-23.03:7; 2013, cc. 585,\n646; 2014, c. 805; 2016, cc. 603, 608; 2025, cc. 455, 471.","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}}