{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1529.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1529.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1529.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1529.html"}],"law_id":54474,"edition_id":1,"section_id":54474,"structure_id":13148,"section_number":"33.2-1529","catch_line":"Toll Facilities Revolving Account","history":"1986, Sp. Sess., c. 13, \u00a7 33.1-23.03:4; 1995, cc. 545, 576; 1997, c. 501; 2014, c. 805; 2015, cc. 684, 709.","full_text":"A\n\nAll definitions of terms in this section shall be as set forth in the Public-Private Transportation Act of 1995 (§ 33.2-1800 et seq.).B\n\nSubject to any obligations to existing bondholders, but notwithstanding §§ 2.2-1806 and 58.1-13, funds deposited into the Transportation Trust Fund pursuant to subdivision A 3 of § 33.2-1524 shall be held in a separate subaccount to be designated the Toll Facilities Revolving Account (the Account). In addition, any funds received from the federal government or any agency or instrumentality thereof that, pursuant to federal law, may be made available, as loans or otherwise, to private persons or entities for transportation purposes, hereinafter referred to as “federal funds,” shall be deposited in a segregated subaccount within the Account. Payments received with respect to any loan made from such segregated subaccount pursuant to subdivision D 2 shall also be deposited into such segregated subaccount in the Account.C\n\nUser fees collected in excess of the annual debt service, operations, and maintenance expenses and necessary administrative costs including any obligations to the Account and any other obligations for qualifying facilities with respect to which an agency of the Commonwealth is the responsible public entity shall be deposited and held in the Regional Toll Facilities Revolving Subaccount, (the Regional Account), together with all interest, dividends, and appreciation for use within the metropolitan planning organization region within which the facility exists. Payments received with respect to any loan made from such Regional Account pursuant to subdivision D 3 shall also be deposited into the Regional Account.D\n\nThe Board may make allocations upon such terms and subject to such conditions as the Board deems appropriate from the following funds for the following purposes:1\n\nFrom any funds in the Account, exclusive of those in the Regional Account, to pay or finance all or part of the costs, including the cost of planning, operation, maintenance, and improvements, incurred in connection with the acquisition and construction of projects financed in whole or in part as toll facilities or to refinance existing toll facilities, provided that any such funds allocated from the Account for a planned or operating toll facility shall be considered as an advance of funding for which the Account shall be reimbursed;2\n\nFrom funds in the segregated subaccount in the Account into which federal funds are deposited in conjunction with the Public-Private Transportation Act of 1995 (§ 33.2-1800 et seq.) and pursuant to the terms of a comprehensive agreement between a responsible public entity and a private operator as provided for in that act:\n\t\t\t\ta. To make a loan to such operator to pay any cost of a qualifying transportation facility, provided that (i) the operator’s return on its investment is limited to a reasonable rate and (ii) such loan is limited to a reasonable term; or\n\t\t\t\tb. To pay the Commonwealth’s or its agency’s portion of costs incurred or to be incurred in accordance with a comprehensive agreement with respect to a transportation facility;3\n\nFrom funds in the Regional Account:\n\t\t\t\ta. To pay or finance all or part of the costs, including the cost of planning, operation, maintenance, and improvements incurred in connection with the acquisition and construction of projects financed in whole or in part as toll facilities or to refinance existing toll facilities, provided that (i) allocations from the Regional Account shall be limited to projects located within the same metropolitan planning organization region as the facility that generated the excess revenue and (ii) any such funds allocated from the Regional Account for a planned or operating toll facility shall be considered as an advance of funding for which the Regional Account shall be reimbursed; or\n\t\t\t\tb. To pay the Commonwealth’s, its agency’s, or its political subdivision’s costs incurred or to be incurred in accordance with a comprehensive agreement with respect to a transportation facility within the same metropolitan planning organization region as the facility that generated the excess revenue; and4\n\nFrom any funds in the Account or Regional Account, to pay the Board’s reasonable costs and expenses incurred in (i) the administration and management of the Account, (ii) its program of financing or refinancing costs of toll facilities, and (iii) the making of loans and paying of costs described in subdivisions 1 and 2.E\n\nThe Board may transfer from the Account to the Transportation Trust Fund for allocation pursuant to § 33.2-358 or the Virginia Transportation Infrastructure Bank pursuant to Article 1 (§ 33.2-1500 et seq.) any interest revenues and, subject to applicable federal limitations, federal funds not committed by the Board to the purposes provided for in subsection D.F\n\nThe provisions of this section shall be liberally construed to the end that its beneficial purposes may be effectuated. Insofar as this provision is inconsistent with the provisions of any other general, special, or local law, this provision shall be controlling.","order_by":null,"text":{"0":{"id":199942,"text":"All definitions of terms in this section shall be as set forth in the Public-Private Transportation Act of 1995 (§ 33.2-1800 et seq.).","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":199943,"text":"Subject to any obligations to existing bondholders, but notwithstanding §§ 2.2-1806 and 58.1-13, funds deposited into the Transportation Trust Fund pursuant to subdivision A 3 of § 33.2-1524 shall be held in a separate subaccount to be designated the Toll Facilities Revolving Account (the Account). In addition, any funds received from the federal government or any agency or instrumentality thereof that, pursuant to federal law, may be made available, as loans or otherwise, to private persons or entities for transportation purposes, hereinafter referred to as “federal funds,” shall be deposited in a segregated subaccount within the Account. Payments received with respect to any loan made from such segregated subaccount pursuant to subdivision D 2 shall also be deposited into such segregated subaccount in the Account.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":199944,"text":"User fees collected in excess of the annual debt service, operations, and maintenance expenses and necessary administrative costs including any obligations to the Account and any other obligations for qualifying facilities with respect to which an agency of the Commonwealth is the responsible public entity shall be deposited and held in the Regional Toll Facilities Revolving Subaccount, (the Regional Account), together with all interest, dividends, and appreciation for use within the metropolitan planning organization region within which the facility exists. Payments received with respect to any loan made from such Regional Account pursuant to subdivision D 3 shall also be deposited into the Regional Account.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":199945,"text":"The Board may make allocations upon such terms and subject to such conditions as the Board deems appropriate from the following funds for the following purposes:","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"D1"},"4":{"id":199946,"text":"From any funds in the Account, exclusive of those in the Regional Account, to pay or finance all or part of the costs, including the cost of planning, operation, maintenance, and improvements, incurred in connection with the acquisition and construction of projects financed in whole or in part as toll facilities or to refinance existing toll facilities, provided that any such funds allocated from the Account for a planned or operating toll facility shall be considered as an advance of funding for which the Account shall be reimbursed;","type":"section","prefixes":["D","1"],"prefix":"1","entire_prefix":"D1","prefix_anchor":"D1","level":2,"prior_prefix":"D","next_prefix":"D2"},"5":{"id":199947,"text":"From funds in the segregated subaccount in the Account into which federal funds are deposited in conjunction with the Public-Private Transportation Act of 1995 (§ 33.2-1800 et seq.) and pursuant to the terms of a comprehensive agreement between a responsible public entity and a private operator as provided for in that act:\n\t\t\t\ta. To make a loan to such operator to pay any cost of a qualifying transportation facility, provided that (i) the operator’s return on its investment is limited to a reasonable rate and (ii) such loan is limited to a reasonable term; or\n\t\t\t\tb. To pay the Commonwealth’s or its agency’s portion of costs incurred or to be incurred in accordance with a comprehensive agreement with respect to a transportation facility;","type":"section","prefixes":["D","2"],"prefix":"2","entire_prefix":"D2","prefix_anchor":"D2","level":2,"prior_prefix":"D1","next_prefix":"D3"},"6":{"id":199948,"text":"From funds in the Regional Account:\n\t\t\t\ta. To pay or finance all or part of the costs, including the cost of planning, operation, maintenance, and improvements incurred in connection with the acquisition and construction of projects financed in whole or in part as toll facilities or to refinance existing toll facilities, provided that (i) allocations from the Regional Account shall be limited to projects located within the same metropolitan planning organization region as the facility that generated the excess revenue and (ii) any such funds allocated from the Regional Account for a planned or operating toll facility shall be considered as an advance of funding for which the Regional Account shall be reimbursed; or\n\t\t\t\tb. To pay the Commonwealth’s, its agency’s, or its political subdivision’s costs incurred or to be incurred in accordance with a comprehensive agreement with respect to a transportation facility within the same metropolitan planning organization region as the facility that generated the excess revenue; and","type":"section","prefixes":["D","3"],"prefix":"3","entire_prefix":"D3","prefix_anchor":"D3","level":2,"prior_prefix":"D2","next_prefix":"D4"},"7":{"id":199949,"text":"From any funds in the Account or Regional Account, to pay the Board’s reasonable costs and expenses incurred in (i) the administration and management of the Account, (ii) its program of financing or refinancing costs of toll facilities, and (iii) the making of loans and paying of costs described in subdivisions 1 and 2.","type":"section","prefixes":["D","4"],"prefix":"4","entire_prefix":"D4","prefix_anchor":"D4","level":2,"prior_prefix":"D3","next_prefix":"E"},"8":{"id":199950,"text":"The Board may transfer from the Account to the Transportation Trust Fund for allocation pursuant to § 33.2-358 or the Virginia Transportation Infrastructure Bank pursuant to Article 1 (§ 33.2-1500 et seq.) any interest revenues and, subject to applicable federal limitations, federal funds not committed by the Board to the purposes provided for in subsection D.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D4","next_prefix":"F"},"9":{"id":199951,"text":"The provisions of this section shall be liberally construed to the end that its beneficial purposes may be effectuated. Insofar as this provision is inconsistent with the provisions of any other general, special, or local law, this provision shall be controlling.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1529\/","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 1995, chapters 545<\/a> and 576<\/a>; in 1997, chapter 501<\/a>; in 2014, chapter 805<\/a>; in 2015, chapters 684<\/a> and 709<\/a>.<\/p>","references":[{"id":54699,"section_number":"33.2-1525","catch_line":"Administration of Transportation Trust Fund","order_by":null,"url":"\/33.2-1525\/"}],"refers_to":[{"id":70116,"section_number":"2.2-1806","catch_line":"Investment of current funds in state treasury; withdrawals and transfers of moneys to be invested","order_by":null,"url":"\/2.2-1806\/"},{"id":56384,"section_number":"33.2-1500","catch_line":"Legislative findings and purposes","order_by":null,"url":"\/33.2-1500\/"},{"id":72795,"section_number":"33.2-1524","catch_line":"Commonwealth Transportation Fund","order_by":null,"url":"\/33.2-1524\/"},{"id":58174,"section_number":"33.2-1800","catch_line":"Definitions","order_by":null,"url":"\/33.2-1800\/"},{"id":81138,"section_number":"33.2-358","catch_line":"Allocation of funds to programs","order_by":null,"url":"\/33.2-358\/"},{"id":74293,"section_number":"58.1-13","catch_line":"State taxes to be paid into the general fund","order_by":null,"url":"\/58.1-13\/"}],"permalink":{"id":206649,"object_type":"law","relational_id":54474,"identifier":"33.2-1529","token":"33.2\/III\/15\/5\/33.2-1529","url":"\/33.2-1529\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1529\/","token":"33.2\/III\/15\/5\/33.2-1529","dublin_core":{"Title":"Toll Facilities Revolving Account","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1529","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> All definitions of terms in this section shall be as set forth in the Public-Private Transportation Act of 1995 (§ 33.2-1800<\/a> et seq.). <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Subject to any obligations to existing bondholders, but notwithstanding §§ 2.2-1806<\/a> and 58.1-13<\/a>, funds deposited into the Transportation Trust Fund pursuant to subdivision A 3 of § 33.2-1524<\/a> shall be held in a separate subaccount to be designated the Toll Facilities Revolving Account (the Account). In addition, any funds received from the federal government or any agency or instrumentality thereof that, pursuant to federal law<\/span>, may be made available, as loans or otherwise, to private persons or entities for transportation purposes, hereinafter referred to as “federal funds,” shall be deposited in a segregated subaccount within the Account. Payments received with respect to any loan made from such segregated subaccount pursuant to subdivision D 2 shall also be deposited into such segregated subaccount in the Account. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> User fees collected in excess of the annual debt service, operations, and maintenance<\/span> expenses and necessary administrative costs including any obligations to the Account and any other obligations for qualifying facilities with respect to which an agency of the Commonwealth is the responsible public entity shall be deposited and held in the Regional Toll Facilities Revolving Subaccount, (the Regional Account), together with all interest, dividends, and appreciation for use within the metropolitan planning organization region within which the facility exists. Payments received with respect to any loan made from such Regional Account pursuant to subdivision D 3 shall also be deposited into the Regional Account. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Board<\/span> may make allocations upon such terms and subject to such conditions as the Board<\/span> deems appropriate from the following funds for the following purposes: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> From any funds in the Account, exclusive of those in the Regional Account, to pay or finance all or part of the costs, including the cost of planning, operation, maintenance<\/span>, and improvements, incurred in connection with the acquisition and construction of projects financed in whole or in part as toll facilities or to refinance existing toll facilities, provided that any such funds allocated from the Account for a planned or operating toll facility shall be considered as an advance of funding for which the Account shall be reimbursed; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> From funds in the segregated subaccount in the Account into which federal funds are deposited in conjunction with the Public-Private Transportation Act of 1995 (§ 33.2-1800<\/a> et seq.) and pursuant to the terms of a comprehensive agreement between a responsible public entity and a private operator as provided for in that act:\n\t\t\t\ta. To make a loan to such operator to pay any cost of a qualifying transportation facility, provided that (i) the operator’s return on its investment is limited to a reasonable rate and (ii) such loan is limited to a reasonable term; or\n\t\t\t\tb. To pay the Commonwealth’s or its agency’s portion of costs incurred or to be incurred in accordance with a comprehensive agreement with respect to a transportation facility; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> From funds in the Regional Account:\n\t\t\t\ta. To pay or finance all or part of the costs, including the cost of planning, operation, maintenance<\/span>, and improvements incurred in connection with the acquisition and construction of projects financed in whole or in part as toll facilities or to refinance existing toll facilities, provided that (i) allocations from the Regional Account shall be limited to projects located within the same metropolitan planning organization region as the facility that generated the excess revenue and (ii) any such funds allocated from the Regional Account for a planned or operating toll facility shall be considered as an advance of funding for which the Regional Account shall be reimbursed; or\n\t\t\t\tb. To pay the Commonwealth’s, its agency’s, or its political subdivision’s costs incurred or to be incurred in accordance with a comprehensive agreement with respect to a transportation facility within the same metropolitan planning organization region as the facility that generated the excess revenue; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> From any funds in the Account or Regional Account, to pay the Board<\/span>’s reasonable costs and expenses incurred in (i) the administration and management of the Account, (ii) its program of financing or refinancing costs of toll facilities, and (iii) the making of loans and paying of costs described in subdivisions 1 and 2. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> The Board<\/span> may transfer from the Account to the Transportation Trust Fund for allocation pursuant to § 33.2-358<\/a> or the Virginia Transportation Infrastructure Bank pursuant to Article 1 (§ 33.2-1500<\/a> et seq.) any interest revenues and, subject to applicable federal limitations, federal funds not committed by the Board<\/span> to the purposes provided for in subsection D. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The provisions of this section shall be liberally construed to the end that its beneficial purposes may be effectuated. Insofar as this provision is inconsistent with the provisions of any other general, special, or local law<\/span>, this provision shall be controlling. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTOLL FACILITIES REVOLVING ACCOUNT (\u00a7 33.2-1529)\n\nA. All definitions of terms in this section shall be as set forth in the\nPublic-Private Transportation Act of 1995 (§ 33.2-1800 et seq.).\n\nB. Subject to any obligations to existing bondholders, but notwithstanding\n§§ 2.2-1806 and 58.1-13, funds deposited into the Transportation Trust\nFund pursuant to subdivision A 3 of § 33.2-1524 shall be held in a separate\nsubaccount to be designated the Toll Facilities Revolving Account (the Account).\nIn addition, any funds received from the federal government or any agency or\ninstrumentality thereof that, pursuant to federal law, may be made available, as\nloans or otherwise, to private persons or entities for transportation purposes,\nhereinafter referred to as “federal funds,” shall be deposited in a\nsegregated subaccount within the Account. Payments received with respect to any\nloan made from such segregated subaccount pursuant to subdivision D 2 shall also\nbe deposited into such segregated subaccount in the Account.\n\nC. User fees collected in excess of the annual debt service, operations, and\nmaintenance expenses and necessary administrative costs including any\nobligations to the Account and any other obligations for qualifying facilities\nwith respect to which an agency of the Commonwealth is the responsible public\nentity shall be deposited and held in the Regional Toll Facilities Revolving\nSubaccount, (the Regional Account), together with all interest, dividends, and\nappreciation for use within the metropolitan planning organization region within\nwhich the facility exists. Payments received with respect to any loan made from\nsuch Regional Account pursuant to subdivision D 3 shall also be deposited into\nthe Regional Account.\n\nD. The Board may make allocations upon such terms and subject to such conditions\nas the Board deems appropriate from the following funds for the following\npurposes:\n\n 1. From any funds in the Account, exclusive of those in the Regional Account,\n to pay or finance all or part of the costs, including the cost of planning,\n operation, maintenance, and improvements, incurred in connection with the\n acquisition and construction of projects financed in whole or in part as toll\n facilities or to refinance existing toll facilities, provided that any such\n funds allocated from the Account for a planned or operating toll facility\n shall be considered as an advance of funding for which the Account shall be\n reimbursed;\n\n 2. From funds in the segregated subaccount in the Account into which federal\n funds are deposited in conjunction with the Public-Private Transportation Act\n of 1995 (§ 33.2-1800 et seq.) and pursuant to the terms of a\n comprehensive agreement between a responsible public entity and a private\n operator as provided for in that act:\n \t\t\t\ta. To make a loan to such operator to pay any cost of a qualifying\n transportation facility, provided that (i) the operator’s return on its\n investment is limited to a reasonable rate and (ii) such loan is limited to a\n reasonable term; or\n \t\t\t\tb. To pay the Commonwealth’s or its agency’s portion of costs\n incurred or to be incurred in accordance with a comprehensive agreement with\n respect to a transportation facility;\n\n 3. From funds in the Regional Account:\n \t\t\t\ta. To pay or finance all or part of the costs, including the cost of\n planning, operation, maintenance, and improvements incurred in connection with\n the acquisition and construction of projects financed in whole or in part as\n toll facilities or to refinance existing toll facilities, provided that (i)\n allocations from the Regional Account shall be limited to projects located\n within the same metropolitan planning organization region as the facility that\n generated the excess revenue and (ii) any such funds allocated from the\n Regional Account for a planned or operating toll facility shall be considered\n as an advance of funding for which the Regional Account shall be reimbursed;\n or\n \t\t\t\tb. To pay the Commonwealth’s, its agency’s, or its political\n subdivision’s costs incurred or to be incurred in accordance with a\n comprehensive agreement with respect to a transportation facility within the\n same metropolitan planning organization region as the facility that generated\n the excess revenue; and\n\n 4. From any funds in the Account or Regional Account, to pay the Board’s\n reasonable costs and expenses incurred in (i) the administration and\n management of the Account, (ii) its program of financing or refinancing costs\n of toll facilities, and (iii) the making of loans and paying of costs\n described in subdivisions 1 and 2.\n\nE. The Board may transfer from the Account to the Transportation Trust Fund for\nallocation pursuant to § 33.2-358 or the Virginia Transportation\nInfrastructure Bank pursuant to Article 1 (§ 33.2-1500 et seq.) any\ninterest revenues and, subject to applicable federal limitations, federal funds\nnot committed by the Board to the purposes provided for in subsection D.\n\nF. The provisions of this section shall be liberally construed to the end that\nits beneficial purposes may be effectuated. Insofar as this provision is\ninconsistent with the provisions of any other general, special, or local law,\nthis provision shall be controlling.\n\nHISTORY: 1986, Sp. Sess., c. 13, \u00a7 33.1-23.03:4; 1995, cc. 545, 576; 1997, c.\n501; 2014, c. 805; 2015, cc. 684, 709.","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}}