{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1527.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1527.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1527.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1527.html"}],"law_id":64458,"edition_id":1,"section_id":64458,"structure_id":13148,"section_number":"33.2-1527","catch_line":"Priority Transportation Fund","history":"2000, cc. 1019, 1044, \u00a7 33.1-23.03:8; 2007, c. 896; 2013, c. 766; 2014, c. 805; 2020, cc. 1230, 1275.","full_text":"A\n\nThere is hereby created in the state treasury a special nonreverting fund to be known as the Priority Transportation Fund (the Fund). The Fund shall be established on the books of the Comptroller. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. All funds as may be designated in the appropriation act for deposit to the Fund shall be paid into the state treasury and credited to the Fund. Such funds shall include:1\n\nBeginning with the fiscal year ending June 30, 2000, and for fiscal years thereafter, all revenues that exceed the official forecast, pursuant to § 2.2-1503, for (i) the allocation to the Highway Maintenance and Operating Fund established in § 33.2-1530 as set forth in § 33.2-1524 and (ii) the allocation to highway and mass transit improvement projects as set forth in § 33.2-1524.1, but not including any amounts that are allocated to the Commonwealth Port Fund and the Commonwealth Aviation Fund under such section;2\n\nAll revenues deposited into the Fund pursuant to subdivision 7 of § 33.2-1524.1;3\n\nAll revenues deposited into the Fund pursuant to § 33.2-226; and4\n\nAny other such funds as may be transferred, allocated, or appropriated.\n\t\t\t\tAll moneys in the Fund shall first be used for debt service payments on bonds or obligations for which the Fund is expressly required for making debt service payments, to the extent needed. The Fund shall be considered a part of the Transportation Trust Fund. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes enumerated in subsection B. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller.B\n\nThe Board shall use the Fund to facilitate the financing of priority transportation projects throughout the Commonwealth. The Board may use the Fund by (i) expending amounts therein on such projects directly; (ii) payment to any authority, locality, commission, or other entity for the purpose of paying the costs thereof; or (iii) using such amounts to support, secure, or leverage financing for such projects. No expenditures from or other use of amounts in the Fund shall be considered in allocating highway maintenance and construction funds under § 33.2-358 or apportioning Transportation Trust Fund funds under § 58.1-638 but shall be in addition thereto. The Board shall use the Fund to facilitate the financing of priority transportation projects as designated by the General Assembly, provided that at the discretion of the Board funds allocated to projects within a transportation district may be allocated among projects within the same transportation district as needed to meet construction cash-flow needs.C\n\nNotwithstanding any other provision of this section, beginning July 1, 2007, no bonds, obligations, or other evidences of debt (the bonds) that expressly require as a source for debt service payments or for the repayment of such bonds the revenues of the Fund shall be issued or entered into, unless at the time of the issuance the revenues then in the Fund or reasonably anticipated to be deposited into the Fund pursuant to the law then in effect are by themselves sufficient to make 100 percent of the contractually required debt service payments on all such bonds, including any interest related thereto and the retirement of such bonds.","order_by":null,"text":{"0":{"id":234574,"text":"There is hereby created in the state treasury a special nonreverting fund to be known as the Priority Transportation Fund (the Fund). The Fund shall be established on the books of the Comptroller. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. All funds as may be designated in the appropriation act for deposit to the Fund shall be paid into the state treasury and credited to the Fund. Such funds shall include:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":234575,"text":"Beginning with the fiscal year ending June 30, 2000, and for fiscal years thereafter, all revenues that exceed the official forecast, pursuant to § 2.2-1503, for (i) the allocation to the Highway Maintenance and Operating Fund established in § 33.2-1530 as set forth in § 33.2-1524 and (ii) the allocation to highway and mass transit improvement projects as set forth in § 33.2-1524.1, but not including any amounts that are allocated to the Commonwealth Port Fund and the Commonwealth Aviation Fund under such section;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":234576,"text":"All revenues deposited into the Fund pursuant to subdivision 7 of § 33.2-1524.1;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":234577,"text":"All revenues deposited into the Fund pursuant to § 33.2-226; and","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":234578,"text":"Any other such funds as may be transferred, allocated, or appropriated.\n\t\t\t\tAll moneys in the Fund shall first be used for debt service payments on bonds or obligations for which the Fund is expressly required for making debt service payments, to the extent needed. The Fund shall be considered a part of the Transportation Trust Fund. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes enumerated in subsection B. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":234579,"text":"The Board shall use the Fund to facilitate the financing of priority transportation projects throughout the Commonwealth. The Board may use the Fund by (i) expending amounts therein on such projects directly; (ii) payment to any authority, locality, commission, or other entity for the purpose of paying the costs thereof; or (iii) using such amounts to support, secure, or leverage financing for such projects. No expenditures from or other use of amounts in the Fund shall be considered in allocating highway maintenance and construction funds under § 33.2-358 or apportioning Transportation Trust Fund funds under § 58.1-638 but shall be in addition thereto. The Board shall use the Fund to facilitate the financing of priority transportation projects as designated by the General Assembly, provided that at the discretion of the Board funds allocated to projects within a transportation district may be allocated among projects within the same transportation district as needed to meet construction cash-flow needs.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4","next_prefix":"C"},"6":{"id":234580,"text":"Notwithstanding any other provision of this section, beginning July 1, 2007, no bonds, obligations, or other evidences of debt (the bonds) that expressly require as a source for debt service payments or for the repayment of such bonds the revenues of the Fund shall be issued or entered into, unless at the time of the issuance the revenues then in the Fund or reasonably anticipated to be deposited into the Fund pursuant to the law then in effect are by themselves sufficient to make 100 percent of the contractually required debt service payments on all such bonds, including any interest related thereto and the retirement of such bonds.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1527\/","history_text":"

This law was first created in 2000. The record of its establishment is cataloged in chapters 1019<\/a> and 1044<\/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 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 2007, chapter 896<\/a>; in 2013, chapter 766<\/a>; in 2014, chapter 805<\/a>; in 2020, chapters 1230<\/a> and 1275<\/a>.<\/p>","references":[{"id":77204,"section_number":"33.2-1524.1","catch_line":"Transportation Trust Fund","order_by":null,"url":"\/33.2-1524.1\/"},{"id":63551,"section_number":"33.2-1700","catch_line":"Definitions","order_by":null,"url":"\/33.2-1700\/"},{"id":84701,"section_number":"33.2-1701","catch_line":"General powers of Commonwealth Transportation Board","order_by":null,"url":"\/33.2-1701\/"},{"id":82704,"section_number":"33.2-1709","catch_line":"Credit of Commonwealth not pledged","order_by":null,"url":"\/33.2-1709\/"},{"id":83170,"section_number":"33.2-226","catch_line":"Authority to lease or convey airspace","order_by":null,"url":"\/33.2-226\/"}],"refers_to":[{"id":68140,"section_number":"2.2-1503","catch_line":"Filing of six-year revenue plan by Governor","order_by":null,"url":"\/2.2-1503\/"},{"id":72795,"section_number":"33.2-1524","catch_line":"Commonwealth Transportation Fund","order_by":null,"url":"\/33.2-1524\/"},{"id":77204,"section_number":"33.2-1524.1","catch_line":"Transportation Trust Fund","order_by":null,"url":"\/33.2-1524.1\/"},{"id":67094,"section_number":"33.2-1530","catch_line":"Highway Maintenance and Operating Fund","order_by":null,"url":"\/33.2-1530\/"},{"id":83170,"section_number":"33.2-226","catch_line":"Authority to lease or convey airspace","order_by":null,"url":"\/33.2-226\/"},{"id":81138,"section_number":"33.2-358","catch_line":"Allocation of funds to programs","order_by":null,"url":"\/33.2-358\/"},{"id":71974,"section_number":"58.1-638","catch_line":"Disposition of state sales and use tax revenue","order_by":null,"url":"\/58.1-638\/"}],"permalink":{"id":206641,"object_type":"law","relational_id":64458,"identifier":"33.2-1527","token":"33.2\/III\/15\/5\/33.2-1527","url":"\/33.2-1527\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1527\/","token":"33.2\/III\/15\/5\/33.2-1527","dublin_core":{"Title":"Priority Transportation Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1527","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> There is hereby created in the state treasury a special nonreverting fund to be known as the Priority Transportation Fund (the Fund). The Fund shall be established on the books of the Comptroller. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. All funds as may be designated in the appropriation act for deposit to the Fund shall be paid into the state treasury and credited to the Fund. Such funds shall include: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Beginning with the fiscal year ending June 30, 2000, and for fiscal years thereafter, all revenues that exceed the official forecast, pursuant to § 2.2-1503<\/a>, for (i) the allocation to the Highway<\/span> Maintenance<\/span> and Operating Fund established in § 33.2-1530<\/a> as set forth in § 33.2-1524<\/a> and (ii) the allocation to highway<\/span> and mass transit<\/span> improvement projects as set forth in § 33.2-1524.1<\/a>, but not including any amounts that are allocated to the Commonwealth Port Fund and the Commonwealth Aviation Fund under such section; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> All revenues deposited into the Fund pursuant to subdivision 7 of § 33.2-1524.1<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> All revenues deposited into the Fund pursuant to § 33.2-226<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Any other such funds as may be transferred, allocated, or appropriated.\n\t\t\t\tAll moneys in the Fund shall first be used for debt service payments on bonds<\/span> or obligations for which the Fund is expressly required for making debt service payments, to the extent needed. The Fund shall be considered a part of the Transportation Trust Fund. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes enumerated in subsection B. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Board<\/span> shall use the Fund to facilitate the financing of priority transportation projects throughout the Commonwealth. The Board<\/span> may use the Fund by (i) expending amounts therein on such projects directly; (ii) payment to any authority, locality, commission, or other entity for the purpose of paying the costs thereof; or (iii) using such amounts to support, secure, or leverage financing for such projects. No expenditures from or other use of amounts in the Fund shall be considered in allocating highway<\/span> maintenance<\/span> and construction funds under § 33.2-358<\/a> or apportioning Transportation Trust Fund funds under § 58.1-638<\/a> but shall be in addition thereto. The Board<\/span> shall use the Fund to facilitate the financing of priority transportation projects as designated by the General Assembly, provided that at the discretion of the Board<\/span> funds allocated to projects within a transportation district may be allocated among projects within the same transportation district as needed to meet construction cash-flow needs. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Notwithstanding any other provision of this section, beginning July 1, 2007, no bonds<\/span>, obligations, or other evidences<\/span> of debt (the bonds<\/span>) that expressly require as a source for debt service payments or for the repayment of such bonds<\/span> the revenues of the Fund shall be issued or entered into, unless at the time of the issuance the revenues then in the Fund or reasonably anticipated to be deposited into the Fund pursuant to the law<\/span> then in effect are by themselves sufficient to make 100 percent of the contractually required debt service payments on all such bonds<\/span>, including any interest related thereto and the retirement of such bonds<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPRIORITY TRANSPORTATION FUND (\u00a7 33.2-1527)\n\nA. There is hereby created in the state treasury a special nonreverting fund to\nbe known as the Priority Transportation Fund (the Fund). The Fund shall be\nestablished on the books of the Comptroller. Interest earned on moneys in the\nFund shall remain in the Fund and be credited to it. All funds as may be\ndesignated in the appropriation act for deposit to the Fund shall be paid into\nthe state treasury and credited to the Fund. Such funds shall include:\n\n 1. Beginning with the fiscal year ending June 30, 2000, and for fiscal years\n thereafter, all revenues that exceed the official forecast, pursuant to §\n 2.2-1503, for (i) the allocation to the Highway Maintenance and Operating Fund\n established in § 33.2-1530 as set forth in § 33.2-1524 and (ii) the\n allocation to highway and mass transit improvement projects as set forth in\n § 33.2-1524.1, but not including any amounts that are allocated to the\n Commonwealth Port Fund and the Commonwealth Aviation Fund under such section;\n\n 2. All revenues deposited into the Fund pursuant to subdivision 7 of §\n 33.2-1524.1;\n\n 3. All revenues deposited into the Fund pursuant to § 33.2-226; and\n\n 4. Any other such funds as may be transferred, allocated, or appropriated.\n \t\t\t\tAll moneys in the Fund shall first be used for debt service payments on\n bonds or obligations for which the Fund is expressly required for making debt\n service payments, to the extent needed. The Fund shall be considered a part of\n the Transportation Trust Fund. Any moneys remaining in the Fund, including\n interest thereon, at the end of each fiscal year shall not revert to the\n general fund but shall remain in the Fund. Moneys in the Fund shall be used\n solely for the purposes enumerated in subsection B. Expenditures and\n disbursements from the Fund shall be made by the State Treasurer on warrants\n issued by the Comptroller.\n\nB. The Board shall use the Fund to facilitate the financing of priority\ntransportation projects throughout the Commonwealth. The Board may use the Fund\nby (i) expending amounts therein on such projects directly; (ii) payment to any\nauthority, locality, commission, or other entity for the purpose of paying the\ncosts thereof; or (iii) using such amounts to support, secure, or leverage\nfinancing for such projects. No expenditures from or other use of amounts in the\nFund shall be considered in allocating highway maintenance and construction\nfunds under § 33.2-358 or apportioning Transportation Trust Fund funds\nunder § 58.1-638 but shall be in addition thereto. The Board shall use the\nFund to facilitate the financing of priority transportation projects as\ndesignated by the General Assembly, provided that at the discretion of the Board\nfunds allocated to projects within a transportation district may be allocated\namong projects within the same transportation district as needed to meet\nconstruction cash-flow needs.\n\nC. Notwithstanding any other provision of this section, beginning July 1, 2007,\nno bonds, obligations, or other evidences of debt (the bonds) that expressly\nrequire as a source for debt service payments or for the repayment of such bonds\nthe revenues of the Fund shall be issued or entered into, unless at the time of\nthe issuance the revenues then in the Fund or reasonably anticipated to be\ndeposited into the Fund pursuant to the law then in effect are by themselves\nsufficient to make 100 percent of the contractually required debt service\npayments on all such bonds, including any interest related thereto and the\nretirement of such bonds.\n\nHISTORY: 2000, cc. 1019, 1044, \u00a7 33.1-23.03:8; 2007, c. 896; 2013, c. 766;\n2014, c. 805; 2020, cc. 1230, 1275.","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}}