{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-1701.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-1701.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-1701.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-1701.html"}],"law_id":84701,"edition_id":1,"section_id":84701,"structure_id":13528,"section_number":"33.2-1701","catch_line":"General powers of Commonwealth Transportation Board","history":"Code 1950, \u00a7 33-229; 1954, c. 319; 1970, c. 322, \u00a7 33.1-269; 1982, c. 403; 1986, Sp. Sess., c. 13; 1988, cc. 844, 903; 1989, Sp. Sess., cc. 9, 11; 1990, c. 710; 1991, cc. 666, 713; 1993, cc. 391, 793; 1994, cc. 233, 520, 589, 662; 1995, c. 354; 1996, cc. 23, 143; 1999, c. 898; 2000, cc. 1019, 1044; 2004, c. 807; 2007, c. 896; 2011, cc. 830, 868; 2013, c. 639; 2014, c. 805; 2020, cc. 1230, 1275; 2025, c. 327.","full_text":"The Board may, subject to the provisions of this chapter:\n\n1\n\nAcquire by purchase or by condemnation, construct, improve, operate, and maintain any one or more of the projects mentioned and included in the undertaking as defined in § 33.2-1700;2\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Toll Revenue Bonds,” payable from earnings and from any other available sources of funds, to pay the cost of such projects;3\n\nSubject to the limitations and approvals of § 33.2-1712, issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Contract Revenue Bonds,” secured by Transportation Trust Fund revenues under a payment agreement between the Board and the Treasury Board, subject to their appropriation by the General Assembly and payable first from revenues received pursuant to contracts with a primary highway transportation improvement district or transportation service district or other local revenue sources for which specific funding of any such bonds may be authorized by law; second, to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law, to the highway construction district in which the project to be financed is located or to the county or counties in which the project to be financed is located; and third, to the extent required, from other legally available revenues of the Transportation Trust Fund and from any other available source of funds;4\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Revenue Bonds,” secured (i) by revenues received from the U.S. Route 58 Corridor Development Fund, subject to their appropriation by the General Assembly; (ii) to the extent required, from revenues legally available from the Transportation Trust Fund; and (iii) to the extent required, from any other legally available funds that have been appropriated by the General Assembly;5\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from revenues received from the Northern Virginia Transportation District Fund; (ii) to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law, to the highway construction district in which the project to be financed is located or to the city or county in which the project to be financed is located; (iii) to the extent required, from legally available revenues of the Transportation Trust Fund; and (iv) from such other funds that may be appropriated by the General Assembly;6\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Program Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from any revenues received from any Set-aside Fund established by the General Assembly pursuant to § 58.1-816.1; (ii) to the extent required, from revenues received pursuant to any contract with a locality or any alternative mechanism for generation of local revenues for specific funding of a project satisfactory to the Board; (iii) to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law, to the highway construction district in which the project to be financed is located or to the city or county in which the project to be financed is located; (iv) to the extent required, from legally available revenues of the Transportation Trust Fund; and (v) from such other funds that may be appropriated by the General Assembly. No bonds for any project shall be issued under the authority of this subdivision unless such project is specifically included in a bill or resolution passed by the General Assembly;7\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Program Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from any revenues received from the Commonwealth Transit Capital Fund established by the General Assembly pursuant to § 33.2-1526.2; (ii) to the extent required, from legally available revenues of the Transportation Trust Fund; and (iii) from such other funds that may be appropriated by the General Assembly. No bonds for any project shall be issued under the authority of this subdivision unless such project is specifically included in a bill or resolution passed by the General Assembly;8\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes,” secured, subject to their appropriation by the General Assembly, (i) first from any federal highway reimbursements and any other federal highway assistance received by the Commonwealth; (ii) then, at the discretion of the Board, to the extent required, from legally available revenues of the Transportation Trust Fund; and (iii) then from such other funds, if any, that are designated by the General Assembly for such purpose;9\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Credit Assistance Revenue Bonds,” secured, subject to their appropriation by the General Assembly, solely from revenues with respect to or generated by the project being financed thereby and any tolls or other revenues pledged by the Board as security therefor and in accordance with the applicable federal credit assistance authorized with respect to such project by the U.S. Department of Transportation;10\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Capital Projects Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) from the revenues deposited into the Priority Transportation Fund established pursuant to § 33.2-1527; (ii) to the extent required, from revenues legally available from the Transportation Trust Fund; and (iii) to the extent required, from any other legally available funds;11\n\nIssue grant anticipation notes of the Commonwealth from time to time to be known and designated as “Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes,” secured, subject to their appropriation by the General Assembly, (i) first from the project-specific reimbursements pursuant to § 33.2-1520; (ii) then, at the discretion of the Board, to the extent required, from legally available revenues of the Transportation Trust Fund; and (iii) then from such other funds, if any, that are designated by the General Assembly for such purpose;12\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Interstate 81 Program Revenue Bonds,” secured, subject to appropriation by the General Assembly, by revenues received from the Interstate 81 Corridor Improvement Fund from deposits thereto pursuant to § 58.1-2299.20 derived from the receipt of the regional fuels tax levied pursuant to § 58.1-2295;13\n\nFix and collect tolls and other charges for the use of such projects or to refinance the cost of such projects;14\n\nConstruct grade separations at intersections of any projects with public highways, railways, or streets and adjust the lines and grades thereof so as to accommodate the same to the design of such grade separations, the cost of such grade separations and any damage incurred in adjusting the lines and grades of such highways, railways, or streets to be ascertained and paid by the Board as a part of the cost of the project;15\n\nVacate or change the location of any portion of any public highway and reconstruct the same at such new location as the Board deems most favorable for the project and of substantially the same type and in as good condition as the original highway, the cost of such reconstruction and any damage incurred in vacating or changing the location thereof to be ascertained and paid by the Board as a part of the cost of the project. Any public highway vacated or relocated by the Board shall be vacated or relocated in the manner provided by law for the vacation or relocation of public highways, and any damages awarded on account thereof may be paid by the Board as a part of the cost of the project;16\n\nMake reasonable regulations for the installation, construction, maintenance, repair, renewal, and relocation of pipes, mains, sewers, conduits, cables, wires, towers, poles, and other equipment and appliances, referred to in this subdivision as “public utility facilities,” of the Commonwealth and of any locality, political subdivision, public utility, or public service corporation owning or operating the same in, on, along, over, or under the project. Whenever the Board determines that it is necessary that any such public utility facilities should be relocated or removed, the Commonwealth or such locality, political subdivision, public utility, or public service corporation shall relocate or remove the same in accordance with the order of the Board. The cost and expense of such relocation or removal, including the cost of installing such public utility facilities in a new location or locations, the cost of any lands or any rights or interests in lands, and any other rights acquired to accomplish such relocation or removal, shall be ascertained by the Board.\n\t\t\tOn any toll project, the Board shall pay the cost and expense of relocation or removal as a part of the cost of the project for those public utility facilities owned or operated by the Commonwealth or such locality, political subdivision, public utility, or public service corporation. On all other projects under this chapter, the Board shall pay the cost and expense of relocation or removal as a part of the cost of the project for those public utility facilities owned or operated by the Commonwealth or such locality or political subdivision. The Commonwealth or such locality, political subdivision, public utility, or public service corporation may maintain and operate such public utility facilities with the necessary appurtenances in the new location for as long a period and upon the same terms and conditions as it had the right to maintain and operate such public utility facilities in their former location;17\n\nAcquire by the exercise of the power of eminent domain any lands, property, rights, rights-of-way, franchises, easements, and other property, including public lands, parks, playgrounds, reservations, highways, or parkways, or parts thereof or rights therein, of any locality or political subdivision, deemed necessary or convenient for the construction or the efficient operation of the project or necessary in the restoration, replacement, or relocation of public or private property damaged or destroyed.\n\t\t\tThe cost of such projects shall be paid solely from the proceeds of Commonwealth of Virginia Toll or Transportation Contract Revenue Bonds or a combination thereof or from such proceeds and from any grant or contribution that may be made thereto pursuant to the provisions of this chapter;18\n\nNotwithstanding any provision of this chapter to the contrary, the Board shall be authorized to exercise the powers conferred in this chapter, in addition to its general powers to acquire rights-of-way and to construct, operate, and maintain state highways, with respect to any project that the General Assembly has authorized or may hereafter authorize to be financed in whole or in part through the issuance of bonds of the Commonwealth pursuant to the provisions of Article X, § 9 (c) of the Constitution of Virginia;19\n\nEnter into any agreements or take such other actions as the Board determines in connection with applying for or obtaining any federal credit assistance, including without limitation loan guarantees and lines of credit, pursuant to authorization from the U.S. Department of Transportation with respect to any project included in the Commonwealth’s long-range transportation plan and the approved State Transportation Improvement Program;20\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Passenger Rail Facilities Bonds,” secured, subject to their appropriation by the General Assembly from net revenues resulting from tolls, rates, fees, and charges for or in connection with the use, occupancy, and services of the Transform 66 Inside the Beltway express lanes project and remaining after payment of expenses incurred in operating such project’s toll facilities; and21\n\nIssue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Special Structures Program Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from revenues received from the Special Structure Fund pursuant to § 33.2-1532; (ii) second and to the extent required, from revenues legally available from the Transportation Trust Fund; and (iii) then to the extent required, from any other legally available funds.","order_by":null,"text":{"0":{"id":303569,"text":"The Board may, subject to the provisions of this chapter:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":303570,"text":"Acquire by purchase or by condemnation, construct, improve, operate, and maintain any one or more of the projects mentioned and included in the undertaking as defined in § 33.2-1700;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":303571,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Toll Revenue Bonds,” payable from earnings and from any other available sources of funds, to pay the cost of such projects;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":303572,"text":"Subject to the limitations and approvals of § 33.2-1712, issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Contract Revenue Bonds,” secured by Transportation Trust Fund revenues under a payment agreement between the Board and the Treasury Board, subject to their appropriation by the General Assembly and payable first from revenues received pursuant to contracts with a primary highway transportation improvement district or transportation service district or other local revenue sources for which specific funding of any such bonds may be authorized by law; second, to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law, to the highway construction district in which the project to be financed is located or to the county or counties in which the project to be financed is located; and third, to the extent required, from other legally available revenues of the Transportation Trust Fund and from any other available source of funds;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":303573,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Revenue Bonds,” secured (i) by revenues received from the U.S. Route 58 Corridor Development Fund, subject to their appropriation by the General Assembly; (ii) to the extent required, from revenues legally available from the Transportation Trust Fund; and (iii) to the extent required, from any other legally available funds that have been appropriated by the General Assembly;","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":303574,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from revenues received from the Northern Virginia Transportation District Fund; (ii) to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law, to the highway construction district in which the project to be financed is located or to the city or county in which the project to be financed is located; (iii) to the extent required, from legally available revenues of the Transportation Trust Fund; and (iv) from such other funds that may be appropriated by the General Assembly;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":303575,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Program Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from any revenues received from any Set-aside Fund established by the General Assembly pursuant to § 58.1-816.1; (ii) to the extent required, from revenues received pursuant to any contract with a locality or any alternative mechanism for generation of local revenues for specific funding of a project satisfactory to the Board; (iii) to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law, to the highway construction district in which the project to be financed is located or to the city or county in which the project to be financed is located; (iv) to the extent required, from legally available revenues of the Transportation Trust Fund; and (v) from such other funds that may be appropriated by the General Assembly. No bonds for any project shall be issued under the authority of this subdivision unless such project is specifically included in a bill or resolution passed by the General Assembly;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":303576,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Program Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from any revenues received from the Commonwealth Transit Capital Fund established by the General Assembly pursuant to § 33.2-1526.2; (ii) to the extent required, from legally available revenues of the Transportation Trust Fund; and (iii) from such other funds that may be appropriated by the General Assembly. No bonds for any project shall be issued under the authority of this subdivision unless such project is specifically included in a bill or resolution passed by the General Assembly;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":303577,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes,” secured, subject to their appropriation by the General Assembly, (i) first from any federal highway reimbursements and any other federal highway assistance received by the Commonwealth; (ii) then, at the discretion of the Board, to the extent required, from legally available revenues of the Transportation Trust Fund; and (iii) then from such other funds, if any, that are designated by the General Assembly for such purpose;","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":303578,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Credit Assistance Revenue Bonds,” secured, subject to their appropriation by the General Assembly, solely from revenues with respect to or generated by the project being financed thereby and any tolls or other revenues pledged by the Board as security therefor and in accordance with the applicable federal credit assistance authorized with respect to such project by the U.S. Department of Transportation;","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8","next_prefix":"10"},"10":{"id":303579,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Capital Projects Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) from the revenues deposited into the Priority Transportation Fund established pursuant to § 33.2-1527; (ii) to the extent required, from revenues legally available from the Transportation Trust Fund; and (iii) to the extent required, from any other legally available funds;","type":"section","prefixes":["10"],"prefix":"10","entire_prefix":"10","prefix_anchor":"10","level":1,"prior_prefix":"9","next_prefix":"11"},"11":{"id":303580,"text":"Issue grant anticipation notes of the Commonwealth from time to time to be known and designated as “Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes,” secured, subject to their appropriation by the General Assembly, (i) first from the project-specific reimbursements pursuant to § 33.2-1520; (ii) then, at the discretion of the Board, to the extent required, from legally available revenues of the Transportation Trust Fund; and (iii) then from such other funds, if any, that are designated by the General Assembly for such purpose;","type":"section","prefixes":["11"],"prefix":"11","entire_prefix":"11","prefix_anchor":"11","level":1,"prior_prefix":"10","next_prefix":"12"},"12":{"id":303581,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Interstate 81 Program Revenue Bonds,” secured, subject to appropriation by the General Assembly, by revenues received from the Interstate 81 Corridor Improvement Fund from deposits thereto pursuant to § 58.1-2299.20 derived from the receipt of the regional fuels tax levied pursuant to § 58.1-2295;","type":"section","prefixes":["12"],"prefix":"12","entire_prefix":"12","prefix_anchor":"12","level":1,"prior_prefix":"11","next_prefix":"13"},"13":{"id":303582,"text":"Fix and collect tolls and other charges for the use of such projects or to refinance the cost of such projects;","type":"section","prefixes":["13"],"prefix":"13","entire_prefix":"13","prefix_anchor":"13","level":1,"prior_prefix":"12","next_prefix":"14"},"14":{"id":303583,"text":"Construct grade separations at intersections of any projects with public highways, railways, or streets and adjust the lines and grades thereof so as to accommodate the same to the design of such grade separations, the cost of such grade separations and any damage incurred in adjusting the lines and grades of such highways, railways, or streets to be ascertained and paid by the Board as a part of the cost of the project;","type":"section","prefixes":["14"],"prefix":"14","entire_prefix":"14","prefix_anchor":"14","level":1,"prior_prefix":"13","next_prefix":"15"},"15":{"id":303584,"text":"Vacate or change the location of any portion of any public highway and reconstruct the same at such new location as the Board deems most favorable for the project and of substantially the same type and in as good condition as the original highway, the cost of such reconstruction and any damage incurred in vacating or changing the location thereof to be ascertained and paid by the Board as a part of the cost of the project. Any public highway vacated or relocated by the Board shall be vacated or relocated in the manner provided by law for the vacation or relocation of public highways, and any damages awarded on account thereof may be paid by the Board as a part of the cost of the project;","type":"section","prefixes":["15"],"prefix":"15","entire_prefix":"15","prefix_anchor":"15","level":1,"prior_prefix":"14","next_prefix":"16"},"16":{"id":303585,"text":"Make reasonable regulations for the installation, construction, maintenance, repair, renewal, and relocation of pipes, mains, sewers, conduits, cables, wires, towers, poles, and other equipment and appliances, referred to in this subdivision as “public utility facilities,” of the Commonwealth and of any locality, political subdivision, public utility, or public service corporation owning or operating the same in, on, along, over, or under the project. Whenever the Board determines that it is necessary that any such public utility facilities should be relocated or removed, the Commonwealth or such locality, political subdivision, public utility, or public service corporation shall relocate or remove the same in accordance with the order of the Board. The cost and expense of such relocation or removal, including the cost of installing such public utility facilities in a new location or locations, the cost of any lands or any rights or interests in lands, and any other rights acquired to accomplish such relocation or removal, shall be ascertained by the Board.\n\t\t\tOn any toll project, the Board shall pay the cost and expense of relocation or removal as a part of the cost of the project for those public utility facilities owned or operated by the Commonwealth or such locality, political subdivision, public utility, or public service corporation. On all other projects under this chapter, the Board shall pay the cost and expense of relocation or removal as a part of the cost of the project for those public utility facilities owned or operated by the Commonwealth or such locality or political subdivision. The Commonwealth or such locality, political subdivision, public utility, or public service corporation may maintain and operate such public utility facilities with the necessary appurtenances in the new location for as long a period and upon the same terms and conditions as it had the right to maintain and operate such public utility facilities in their former location;","type":"section","prefixes":["16"],"prefix":"16","entire_prefix":"16","prefix_anchor":"16","level":1,"prior_prefix":"15","next_prefix":"17"},"17":{"id":303586,"text":"Acquire by the exercise of the power of eminent domain any lands, property, rights, rights-of-way, franchises, easements, and other property, including public lands, parks, playgrounds, reservations, highways, or parkways, or parts thereof or rights therein, of any locality or political subdivision, deemed necessary or convenient for the construction or the efficient operation of the project or necessary in the restoration, replacement, or relocation of public or private property damaged or destroyed.\n\t\t\tThe cost of such projects shall be paid solely from the proceeds of Commonwealth of Virginia Toll or Transportation Contract Revenue Bonds or a combination thereof or from such proceeds and from any grant or contribution that may be made thereto pursuant to the provisions of this chapter;","type":"section","prefixes":["17"],"prefix":"17","entire_prefix":"17","prefix_anchor":"17","level":1,"prior_prefix":"16","next_prefix":"18"},"18":{"id":303587,"text":"Notwithstanding any provision of this chapter to the contrary, the Board shall be authorized to exercise the powers conferred in this chapter, in addition to its general powers to acquire rights-of-way and to construct, operate, and maintain state highways, with respect to any project that the General Assembly has authorized or may hereafter authorize to be financed in whole or in part through the issuance of bonds of the Commonwealth pursuant to the provisions of Article X, § 9 (c) of the Constitution of Virginia;","type":"section","prefixes":["18"],"prefix":"18","entire_prefix":"18","prefix_anchor":"18","level":1,"prior_prefix":"17","next_prefix":"19"},"19":{"id":303588,"text":"Enter into any agreements or take such other actions as the Board determines in connection with applying for or obtaining any federal credit assistance, including without limitation loan guarantees and lines of credit, pursuant to authorization from the U.S. Department of Transportation with respect to any project included in the Commonwealth’s long-range transportation plan and the approved State Transportation Improvement Program;","type":"section","prefixes":["19"],"prefix":"19","entire_prefix":"19","prefix_anchor":"19","level":1,"prior_prefix":"18","next_prefix":"20"},"20":{"id":303589,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Passenger Rail Facilities Bonds,” secured, subject to their appropriation by the General Assembly from net revenues resulting from tolls, rates, fees, and charges for or in connection with the use, occupancy, and services of the Transform 66 Inside the Beltway express lanes project and remaining after payment of expenses incurred in operating such project’s toll facilities; and","type":"section","prefixes":["20"],"prefix":"20","entire_prefix":"20","prefix_anchor":"20","level":1,"prior_prefix":"19","next_prefix":"21"},"21":{"id":303590,"text":"Issue revenue bonds of the Commonwealth to be known and designated as “Commonwealth of Virginia Special Structures Program Revenue Bonds,” secured, subject to their appropriation by the General Assembly, (i) first from revenues received from the Special Structure Fund pursuant to § 33.2-1532; (ii) second and to the extent required, from revenues legally available from the Transportation Trust Fund; and (iii) then to the extent required, from any other legally available funds.","type":"section","prefixes":["21"],"prefix":"21","entire_prefix":"21","prefix_anchor":"21","level":1,"prior_prefix":"20"}},"ancestry":[{"id":13528,"edition_id":1,"name":"Transportation Development and Revenue Bond Act","identifier":"17","label":"chapter","depth":3,"order_by":1,"parent_id":13146,"metadata":{},"date_created":"2026-06-26 03:45:07","date_modified":"2026-06-26 03:45:07","permalink":{"id":206695,"object_type":"structure","relational_id":13528,"identifier":"17","token":"33.2\/III\/17","url":"\/33.2\/III\/17\/","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":63551,"structure_id":13528,"section_number":"33.2-1700","catch_line":"Definitions","url":"\/33.2-1700\/","token":"33.2\/III\/17\/33.2-1700","metadata":false},{"id":84701,"structure_id":13528,"section_number":"33.2-1701","catch_line":"General powers of Commonwealth Transportation Board","url":"\/33.2-1701\/","token":"33.2\/III\/17\/33.2-1701","metadata":false},{"id":80449,"structure_id":13528,"section_number":"33.2-1702","catch_line":"Acquisition and construction of projects","url":"\/33.2-1702\/","token":"33.2\/III\/17\/33.2-1702","metadata":false},{"id":86114,"structure_id":13528,"section_number":"33.2-1703","catch_line":"Purchase of projects","url":"\/33.2-1703\/","token":"33.2\/III\/17\/33.2-1703","metadata":false},{"id":60370,"structure_id":13528,"section_number":"33.2-1704","catch_line":"Condemnation of projects and property","url":"\/33.2-1704\/","token":"33.2\/III\/17\/33.2-1704","metadata":false},{"id":76541,"structure_id":13528,"section_number":"33.2-1705","catch_line":"Improvement of projects acquired","url":"\/33.2-1705\/","token":"33.2\/III\/17\/33.2-1705","metadata":false},{"id":55097,"structure_id":13528,"section_number":"33.2-1706","catch_line":"Construction of projects","url":"\/33.2-1706\/","token":"33.2\/III\/17\/33.2-1706","metadata":false},{"id":55698,"structure_id":13528,"section_number":"33.2-1707","catch_line":"Highway connections","url":"\/33.2-1707\/","token":"33.2\/III\/17\/33.2-1707","metadata":false},{"id":65580,"structure_id":13528,"section_number":"33.2-1708","catch_line":"Revenue bonds","url":"\/33.2-1708\/","token":"33.2\/III\/17\/33.2-1708","metadata":false},{"id":82704,"structure_id":13528,"section_number":"33.2-1709","catch_line":"Credit of Commonwealth not pledged","url":"\/33.2-1709\/","token":"33.2\/III\/17\/33.2-1709","metadata":false},{"id":54493,"structure_id":13528,"section_number":"33.2-1710","catch_line":"Form and terms of bonds","url":"\/33.2-1710\/","token":"33.2\/III\/17\/33.2-1710","metadata":false},{"id":69964,"structure_id":13528,"section_number":"33.2-1711","catch_line":"No other prerequisites to issue of bonds","url":"\/33.2-1711\/","token":"33.2\/III\/17\/33.2-1711","metadata":false},{"id":57059,"structure_id":13528,"section_number":"33.2-1712","catch_line":"Limitations and approvals for certain revenue bonds","url":"\/33.2-1712\/","token":"33.2\/III\/17\/33.2-1712","metadata":false},{"id":57433,"structure_id":13528,"section_number":"33.2-1713","catch_line":"Sale of bonds; bonds as legal investments","url":"\/33.2-1713\/","token":"33.2\/III\/17\/33.2-1713","metadata":false},{"id":58119,"structure_id":13528,"section_number":"33.2-1714","catch_line":"Use of proceeds of sale of bonds","url":"\/33.2-1714\/","token":"33.2\/III\/17\/33.2-1714","metadata":false},{"id":82268,"structure_id":13528,"section_number":"33.2-1715","catch_line":"Financing two or more projects together","url":"\/33.2-1715\/","token":"33.2\/III\/17\/33.2-1715","metadata":false},{"id":73006,"structure_id":13528,"section_number":"33.2-1716","catch_line":"All moneys to be trust funds","url":"\/33.2-1716\/","token":"33.2\/III\/17\/33.2-1716","metadata":false},{"id":73553,"structure_id":13528,"section_number":"33.2-1717","catch_line":"Trust indenture","url":"\/33.2-1717\/","token":"33.2\/III\/17\/33.2-1717","metadata":false},{"id":80373,"structure_id":13528,"section_number":"33.2-1718","catch_line":"Revenues","url":"\/33.2-1718\/","token":"33.2\/III\/17\/33.2-1718","metadata":false},{"id":74535,"structure_id":13528,"section_number":"33.2-1719","catch_line":"Reserve funds and appropriations","url":"\/33.2-1719\/","token":"33.2\/III\/17\/33.2-1719","metadata":false},{"id":85790,"structure_id":13528,"section_number":"33.2-1720","catch_line":"Sinking fund","url":"\/33.2-1720\/","token":"33.2\/III\/17\/33.2-1720","metadata":false},{"id":63337,"structure_id":13528,"section_number":"33.2-1721","catch_line":" Cessation of tolls","url":"\/33.2-1721\/","token":"33.2\/III\/17\/33.2-1721","metadata":false},{"id":86949,"structure_id":13528,"section_number":"33.2-1722","catch_line":"Use of certain funds by Board","url":"\/33.2-1722\/","token":"33.2\/III\/17\/33.2-1722","metadata":false},{"id":83568,"structure_id":13528,"section_number":"33.2-1723","catch_line":"Contributions","url":"\/33.2-1723\/","token":"33.2\/III\/17\/33.2-1723","metadata":false},{"id":83320,"structure_id":13528,"section_number":"33.2-1724","catch_line":"Remedies of bondholders and trustee","url":"\/33.2-1724\/","token":"33.2\/III\/17\/33.2-1724","metadata":false},{"id":78310,"structure_id":13528,"section_number":"33.2-1725","catch_line":"Competing bridges, ferries, and tunnels","url":"\/33.2-1725\/","token":"33.2\/III\/17\/33.2-1725","metadata":false},{"id":60374,"structure_id":13528,"section_number":"33.2-1726","catch_line":"Incidental powers of the Board","url":"\/33.2-1726\/","token":"33.2\/III\/17\/33.2-1726","metadata":false},{"id":60094,"structure_id":13528,"section_number":"33.2-1727","catch_line":"Revenue refunding bonds and revenue bonds for combined purposes","url":"\/33.2-1727\/","token":"33.2\/III\/17\/33.2-1727","metadata":false},{"id":54553,"structure_id":13528,"section_number":"33.2-1728","catch_line":"Chapter provides alternative method","url":"\/33.2-1728\/","token":"33.2\/III\/17\/33.2-1728","metadata":false},{"id":72521,"structure_id":13528,"section_number":"33.2-1729","catch_line":"Chapter liberally construed","url":"\/33.2-1729\/","token":"33.2\/III\/17\/33.2-1729","metadata":false}],"previous_section":{"id":63551,"structure_id":13528,"section_number":"33.2-1700","catch_line":"Definitions","url":"\/33.2-1700\/","token":"33.2\/III\/17\/33.2-1700","metadata":false},"next_section":{"id":80449,"structure_id":13528,"section_number":"33.2-1702","catch_line":"Acquisition and construction of projects","url":"\/33.2-1702\/","token":"33.2\/III\/17\/33.2-1702","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-1701\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 19 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 1954, chapter 319; in 1970, chapter 322; in 1982, chapter 403; in 1988, chapters 844 and 903; in 1990, chapter 710; in 1991, chapters 666 and 713; in 1993, chapters 391 and 793; in 1994, chapters 233<\/a>, 520<\/a>, 589<\/a>, and 662<\/a>; in 1995, chapter 354<\/a>; in 1996, chapters 23<\/a> and 143<\/a>; in 1999, chapter 898<\/a>; in 2000, chapters 1019<\/a> and 1044<\/a>; in 2004, chapter 807<\/a>; in 2007, chapter 896<\/a>; in 2011, chapters 830<\/a> and 868<\/a>; in 2013, chapter 639<\/a>; in 2014, chapter 805<\/a>; in 2020, chapters 1230<\/a> and 1275<\/a>; in 2025, chapter 327<\/a>.<\/p>","references":[{"id":77654,"section_number":"33.2-1520","catch_line":"Application of project-specific reimbursements","order_by":null,"url":"\/33.2-1520\/"},{"id":86224,"section_number":"33.2-1526.2","catch_line":"Commonwealth Transit Capital Fund","order_by":null,"url":"\/33.2-1526.2\/"},{"id":63826,"section_number":"33.2-365","catch_line":"Allocation of proceeds of Commonwealth of Virginia Transportation Capital Projects Revenue Bonds","order_by":null,"url":"\/33.2-365\/"}],"refers_to":[{"id":77654,"section_number":"33.2-1520","catch_line":"Application of project-specific reimbursements","order_by":null,"url":"\/33.2-1520\/"},{"id":86224,"section_number":"33.2-1526.2","catch_line":"Commonwealth Transit Capital Fund","order_by":null,"url":"\/33.2-1526.2\/"},{"id":64458,"section_number":"33.2-1527","catch_line":"Priority Transportation Fund","order_by":null,"url":"\/33.2-1527\/"},{"id":82831,"section_number":"33.2-1532","catch_line":"Special Structure Fund","order_by":null,"url":"\/33.2-1532\/"},{"id":63551,"section_number":"33.2-1700","catch_line":"Definitions","order_by":null,"url":"\/33.2-1700\/"},{"id":57059,"section_number":"33.2-1712","catch_line":"Limitations and approvals for certain revenue bonds","order_by":null,"url":"\/33.2-1712\/"},{"id":82846,"section_number":"58.1-2295","catch_line":"Levy; payment of tax","order_by":null,"url":"\/58.1-2295\/"},{"id":56491,"section_number":"58.1-2299.20","catch_line":"Disposition of tax revenues","order_by":null,"url":"\/58.1-2299.20\/"},{"id":80726,"section_number":"58.1-816.1","catch_line":"Transportation Improvement Program Set-aside Fund","order_by":null,"url":"\/58.1-816.1\/"}],"permalink":{"id":206701,"object_type":"law","relational_id":84701,"identifier":"33.2-1701","token":"33.2\/III\/17\/33.2-1701","url":"\/33.2-1701\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-1701\/","token":"33.2\/III\/17\/33.2-1701","dublin_core":{"Title":"General powers of Commonwealth Transportation Board","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-1701","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Board<\/span> may, subject to the provisions of this chapter:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Acquire by purchase or by condemnation, construct, improve, operate, and maintain any one or more of the projects<\/span> mentioned and included in the undertaking<\/span> as defined in § 33.2-1700<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Toll Revenue Bonds<\/span>,” payable from earnings and from any other available sources of funds, to pay the cost of such projects<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Subject to the limitations and approvals of § 33.2-1712<\/a>, issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Contract<\/span> Revenue Bonds<\/span>,” secured by Transportation Trust Fund revenues<\/span> under a payment agreement between the Board<\/span> and the Treasury Board<\/span>, subject to their appropriation by the General Assembly and payable first from revenues<\/span> received pursuant to contracts<\/span> with a primary highway<\/span> transportation improvement district or transportation service district or other local revenue sources for which specific funding of any such bonds<\/span> may be authorized by law<\/span>; second, to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law<\/span>, to the highway construction<\/span> district in which the project<\/span> to be financed is located or to the county or counties in which the project<\/span> to be financed is located; and third, to the extent required, from other legally available revenues<\/span> of the Transportation Trust Fund and from any other available source of funds; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Revenue Bonds<\/span>,” secured (i) by revenues<\/span> received from the U.S. Route 58 Corridor Development Fund, subject to their appropriation by the General Assembly; (ii) to the extent required, from revenues<\/span> legally available from the Transportation Trust Fund; and (iii) to the extent required, from any other legally available funds that have been appropriated by the General Assembly; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Revenue Bonds<\/span>,” secured, subject to their appropriation by the General Assembly, (i) first from revenues<\/span> received from the Northern Virginia Transportation District Fund; (ii) to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law<\/span>, to the highway construction<\/span> district in which the project<\/span> to be financed is located or to the city or county in which the project<\/span> to be financed is located; (iii) to the extent required, from legally available revenues<\/span> of the Transportation Trust Fund; and (iv) from such other funds that may be appropriated by the General Assembly; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Program Revenue Bonds<\/span>,” secured, subject to their appropriation by the General Assembly, (i) first from any revenues<\/span> received from any Set-aside Fund established by the General Assembly pursuant to § 58.1-816.1<\/a>; (ii) to the extent required, from revenues<\/span> received pursuant to any contract<\/span> with a locality or any alternative mechanism for generation of local revenues<\/span> for specific funding of a project<\/span> satisfactory to the Board<\/span>; (iii) to the extent required, from funds appropriated and allocated, pursuant to the highway allocation formula as provided by law<\/span>, to the highway construction<\/span> district in which the project<\/span> to be financed is located or to the city or county in which the project<\/span> to be financed is located; (iv) to the extent required, from legally available revenues<\/span> of the Transportation Trust Fund; and (v) from such other funds that may be appropriated by the General Assembly. No bonds<\/span> for any project<\/span> shall be issued under the authority of this subdivision unless such project<\/span> is specifically included in a bill or resolution passed by the General Assembly; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Program Revenue Bonds<\/span>,” secured, subject to their appropriation by the General Assembly, (i) first from any revenues<\/span> received from the Commonwealth Transit Capital Fund established by the General Assembly pursuant to § 33.2-1526.2<\/a>; (ii) to the extent required, from legally available revenues<\/span> of the Transportation Trust Fund; and (iii) from such other funds that may be appropriated by the General Assembly. No bonds<\/span> for any project<\/span> shall be issued under the authority of this subdivision unless such project<\/span> is specifically included in a bill or resolution passed by the General Assembly; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Federal Highway Reimbursement Anticipation Notes,” secured, subject to their appropriation by the General Assembly, (i) first from any federal highway reimbursements and any other federal highway assistance received by the Commonwealth; (ii) then, at the discretion of the Board<\/span>, to the extent required, from legally available revenues<\/span> of the Transportation Trust Fund; and (iii) then from such other funds, if any, that are designated by the General Assembly for such purpose; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Credit Assistance Revenue Bonds<\/span>,” secured, subject to their appropriation by the General Assembly, solely from revenues<\/span> with respect to or generated by the project<\/span> being financed thereby and any tolls or other revenues<\/span> pledged by the Board<\/span> as security therefor and in accordance with the applicable federal credit assistance authorized with respect to such project<\/span> by the U.S. Department<\/span> of Transportation; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Transportation Capital Projects<\/span> Revenue Bonds<\/span>,” secured, subject to their appropriation by the General Assembly, (i) from the revenues<\/span> deposited into the Priority Transportation Fund established pursuant to § 33.2-1527<\/a>; (ii) to the extent required, from revenues<\/span> legally available from the Transportation Trust Fund; and (iii) to the extent required, from any other legally available funds; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> Issue<\/span> grant anticipation notes of the Commonwealth from time to time to be known and designated as “Commonwealth of Virginia Federal Transportation Grant Anticipation Revenue Notes,” secured, subject to their appropriation by the General Assembly, (i) first from the project<\/span>-specific reimbursements pursuant to § 33.2-1520<\/a>; (ii) then, at the discretion of the Board<\/span>, to the extent required, from legally available revenues<\/span> of the Transportation Trust Fund; and (iii) then from such other funds, if any, that are designated by the General Assembly for such purpose; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Interstate 81 Program Revenue Bonds<\/span>,” secured, subject to appropriation by the General Assembly, by revenues<\/span> received from the Interstate 81 Corridor Improvement Fund from deposits thereto pursuant to § 58.1-2299.20<\/a> derived from the receipt of the regional fuels tax levied pursuant to § 58.1-2295<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

13.<\/span> Fix and collect tolls and other charges for the use of such projects<\/span> or to refinance the cost of such projects<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

14.<\/span> Construct grade separations at intersections of any projects<\/span> with public highways<\/span>, railways, or streets and adjust the lines and grades thereof so as to accommodate the same to the design of such grade separations, the cost of such grade separations and any damage incurred in adjusting the lines and grades of such highways<\/span>, railways, or streets to be ascertained and paid by the Board<\/span> as a part of the cost of the project<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

15.<\/span> Vacate or change the location of any portion of any public highway and reconstruct the same at such new location as the Board<\/span> deems most favorable for the project<\/span> and of substantially the same type and in as good condition as the original highway, the cost of such reconstruction and any damage incurred in vacating or changing the location thereof to be ascertained and paid by the Board<\/span> as a part of the cost of the project<\/span>. Any public highway vacated or relocated by the Board<\/span> shall be vacated or relocated in the manner provided by law<\/span> for the vacation or relocation of public highways<\/span>, and any damages<\/span> awarded on account thereof may be paid by the Board<\/span> as a part of the cost of the project<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

16.<\/span> Make reasonable regulations for the installation, construction, maintenance<\/span>, repair, renewal, and relocation of pipes, mains, sewers, conduits, cables, wires, towers, poles, and other equipment and appliances, referred to in this subdivision as “public utility facilities,” of the Commonwealth and of any locality, political subdivision, public utility, or public service corporation owning or operating the same in, on, along, over, or under the project. Whenever the Board<\/span> determines that it is necessary that any such public utility facilities should be relocated or removed, the Commonwealth or such locality, political subdivision, public utility, or public service corporation shall relocate or remove the same in accordance with the order<\/span> of the Board<\/span>. The cost and expense of such relocation or removal, including the cost of installing such public utility facilities in a new location or locations, the cost of any lands or any rights or interests in lands, and any other rights acquired to accomplish such relocation or removal, shall be ascertained by the Board<\/span>.\n\t\t\tOn any toll project<\/span>, the Board<\/span> shall pay the cost and expense of relocation or removal as a part of the cost of the project for those public utility facilities owned or operated by the Commonwealth or such locality, political subdivision, public utility, or public service corporation. On all other projects<\/span> under this chapter, the Board<\/span> shall pay the cost and expense of relocation or removal as a part of the cost of the project for those public utility facilities owned or operated by the Commonwealth or such locality or political subdivision. The Commonwealth or such locality, political subdivision, public utility, or public service corporation may maintain and operate such public utility facilities with the necessary appurtenances in the new location for as long a period and upon the same terms and conditions as it had the right to maintain and operate such public utility facilities in their former location; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

17.<\/span> Acquire by the exercise of the power of eminent domain any lands, property, rights, rights-of-way, franchises, easements, and other property, including public lands, parks, playgrounds, reservations, highways<\/span>, or parkways, or parts thereof or rights therein, of any locality or political subdivision, deemed necessary or convenient for the construction or the efficient operation of the project or necessary in the restoration, replacement, or relocation of public or private property damaged or destroyed.\n\t\t\tThe cost of such projects<\/span> shall be paid solely from the proceeds of Commonwealth of Virginia Toll or Transportation Contract<\/span> Revenue Bonds<\/span> or a combination thereof or from such proceeds and from any grant or contribution that may be made thereto pursuant to the provisions of this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

18.<\/span> Notwithstanding any provision of this chapter to the contrary, the Board<\/span> shall be authorized to exercise the powers conferred in this chapter, in addition to its general powers to acquire rights-of-way and to construct, operate, and maintain state highways<\/span>, with respect to any project that the General Assembly has authorized or may hereafter authorize to be financed in whole or in part through the issuance of bonds<\/span> of the Commonwealth pursuant to the provisions of Article X, § 9 (c) of the Constitution of Virginia; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

19.<\/span> Enter into any agreements or take such other actions as the Board<\/span> determines in connection with applying for or obtaining any federal credit assistance, including without limitation loan guarantees and lines of credit, pursuant to authorization from the U.S. Department<\/span> of Transportation with respect to any project included in the Commonwealth’s long-range transportation plan and the approved State Transportation Improvement Program; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

20.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Passenger Rail Facilities Bonds<\/span>,” secured, subject to their appropriation by the General Assembly from net revenues<\/span> resulting from tolls, rates, fees, and charges for or in connection with the use, occupancy, and services of the Transform 66 Inside the Beltway express lanes project and remaining after payment of expenses incurred in operating such project’s toll facilities; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

21.<\/span> Issue<\/span> revenue bonds<\/span> of the Commonwealth to be known and designated as “Commonwealth of Virginia Special Structures Program Revenue Bonds<\/span>,” secured, subject to their appropriation by the General Assembly, (i) first from revenues<\/span> received from the Special Structure Fund pursuant to § 33.2-1532<\/a>; (ii) second and to the extent required, from revenues<\/span> legally available from the Transportation Trust Fund; and (iii) then to the extent required, from any other legally available funds. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nGENERAL POWERS OF COMMONWEALTH TRANSPORTATION BOARD (\u00a7 33.2-1701)\n\nThe Board may, subject to the provisions of this chapter:\n\n1. Acquire by purchase or by condemnation, construct, improve, operate, and\nmaintain any one or more of the projects mentioned and included in the\nundertaking as defined in § 33.2-1700;\n\n2. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Toll Revenue Bonds,” payable from earnings\nand from any other available sources of funds, to pay the cost of such projects;\n\n3. Subject to the limitations and approvals of § 33.2-1712, issue revenue\nbonds of the Commonwealth to be known and designated as “Commonwealth of\nVirginia Transportation Contract Revenue Bonds,” secured by Transportation\nTrust Fund revenues under a payment agreement between the Board and the Treasury\nBoard, subject to their appropriation by the General Assembly and payable first\nfrom revenues received pursuant to contracts with a primary highway\ntransportation improvement district or transportation service district or other\nlocal revenue sources for which specific funding of any such bonds may be\nauthorized by law; second, to the extent required, from funds appropriated and\nallocated, pursuant to the highway allocation formula as provided by law, to the\nhighway construction district in which the project to be financed is located or\nto the county or counties in which the project to be financed is located; and\nthird, to the extent required, from other legally available revenues of the\nTransportation Trust Fund and from any other available source of funds;\n\n4. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Transportation Revenue Bonds,” secured (i)\nby revenues received from the U.S. Route 58 Corridor Development Fund, subject\nto their appropriation by the General Assembly; (ii) to the extent required,\nfrom revenues legally available from the Transportation Trust Fund; and (iii) to\nthe extent required, from any other legally available funds that have been\nappropriated by the General Assembly;\n\n5. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Transportation Revenue Bonds,” secured,\nsubject to their appropriation by the General Assembly, (i) first from revenues\nreceived from the Northern Virginia Transportation District Fund; (ii) to the\nextent required, from funds appropriated and allocated, pursuant to the highway\nallocation formula as provided by law, to the highway construction district in\nwhich the project to be financed is located or to the city or county in which\nthe project to be financed is located; (iii) to the extent required, from\nlegally available revenues of the Transportation Trust Fund; and (iv) from such\nother funds that may be appropriated by the General Assembly;\n\n6. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Transportation Program Revenue Bonds,”\nsecured, subject to their appropriation by the General Assembly, (i) first from\nany revenues received from any Set-aside Fund established by the General\nAssembly pursuant to § 58.1-816.1; (ii) to the extent required, from\nrevenues received pursuant to any contract with a locality or any alternative\nmechanism for generation of local revenues for specific funding of a project\nsatisfactory to the Board; (iii) to the extent required, from funds appropriated\nand allocated, pursuant to the highway allocation formula as provided by law, to\nthe highway construction district in which the project to be financed is located\nor to the city or county in which the project to be financed is located; (iv) to\nthe extent required, from legally available revenues of the Transportation Trust\nFund; and (v) from such other funds that may be appropriated by the General\nAssembly. No bonds for any project shall be issued under the authority of this\nsubdivision unless such project is specifically included in a bill or resolution\npassed by the General Assembly;\n\n7. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Transportation Program Revenue Bonds,”\nsecured, subject to their appropriation by the General Assembly, (i) first from\nany revenues received from the Commonwealth Transit Capital Fund established by\nthe General Assembly pursuant to § 33.2-1526.2; (ii) to the extent\nrequired, from legally available revenues of the Transportation Trust Fund; and\n(iii) from such other funds that may be appropriated by the General Assembly. No\nbonds for any project shall be issued under the authority of this subdivision\nunless such project is specifically included in a bill or resolution passed by\nthe General Assembly;\n\n8. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Federal Highway Reimbursement Anticipation\nNotes,” secured, subject to their appropriation by the General Assembly,\n(i) first from any federal highway reimbursements and any other federal highway\nassistance received by the Commonwealth; (ii) then, at the discretion of the\nBoard, to the extent required, from legally available revenues of the\nTransportation Trust Fund; and (iii) then from such other funds, if any, that\nare designated by the General Assembly for such purpose;\n\n9. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Credit Assistance Revenue Bonds,” secured,\nsubject to their appropriation by the General Assembly, solely from revenues\nwith respect to or generated by the project being financed thereby and any tolls\nor other revenues pledged by the Board as security therefor and in accordance\nwith the applicable federal credit assistance authorized with respect to such\nproject by the U.S. Department of Transportation;\n\n10. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Transportation Capital Projects Revenue\nBonds,” secured, subject to their appropriation by the General Assembly,\n(i) from the revenues deposited into the Priority Transportation Fund\nestablished pursuant to § 33.2-1527; (ii) to the extent required, from\nrevenues legally available from the Transportation Trust Fund; and (iii) to the\nextent required, from any other legally available funds;\n\n11. Issue grant anticipation notes of the Commonwealth from time to time to be\nknown and designated as “Commonwealth of Virginia Federal Transportation\nGrant Anticipation Revenue Notes,” secured, subject to their appropriation\nby the General Assembly, (i) first from the project-specific reimbursements\npursuant to § 33.2-1520; (ii) then, at the discretion of the Board, to the\nextent required, from legally available revenues of the Transportation Trust\nFund; and (iii) then from such other funds, if any, that are designated by the\nGeneral Assembly for such purpose;\n\n12. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Interstate 81 Program Revenue Bonds,”\nsecured, subject to appropriation by the General Assembly, by revenues received\nfrom the Interstate 81 Corridor Improvement Fund from deposits thereto pursuant\nto § 58.1-2299.20 derived from the receipt of the regional fuels tax levied\npursuant to § 58.1-2295;\n\n13. Fix and collect tolls and other charges for the use of such projects or to\nrefinance the cost of such projects;\n\n14. Construct grade separations at intersections of any projects with public\nhighways, railways, or streets and adjust the lines and grades thereof so as to\naccommodate the same to the design of such grade separations, the cost of such\ngrade separations and any damage incurred in adjusting the lines and grades of\nsuch highways, railways, or streets to be ascertained and paid by the Board as a\npart of the cost of the project;\n\n15. Vacate or change the location of any portion of any public highway and\nreconstruct the same at such new location as the Board deems most favorable for\nthe project and of substantially the same type and in as good condition as the\noriginal highway, the cost of such reconstruction and any damage incurred in\nvacating or changing the location thereof to be ascertained and paid by the\nBoard as a part of the cost of the project. Any public highway vacated or\nrelocated by the Board shall be vacated or relocated in the manner provided by\nlaw for the vacation or relocation of public highways, and any damages awarded\non account thereof may be paid by the Board as a part of the cost of the\nproject;\n\n16. Make reasonable regulations for the installation, construction, maintenance,\nrepair, renewal, and relocation of pipes, mains, sewers, conduits, cables,\nwires, towers, poles, and other equipment and appliances, referred to in this\nsubdivision as “public utility facilities,” of the Commonwealth and\nof any locality, political subdivision, public utility, or public service\ncorporation owning or operating the same in, on, along, over, or under the\nproject. Whenever the Board determines that it is necessary that any such public\nutility facilities should be relocated or removed, the Commonwealth or such\nlocality, political subdivision, public utility, or public service corporation\nshall relocate or remove the same in accordance with the order of the Board. The\ncost and expense of such relocation or removal, including the cost of installing\nsuch public utility facilities in a new location or locations, the cost of any\nlands or any rights or interests in lands, and any other rights acquired to\naccomplish such relocation or removal, shall be ascertained by the Board.\n\t\t\tOn any toll project, the Board shall pay the cost and expense of relocation\nor removal as a part of the cost of the project for those public utility\nfacilities owned or operated by the Commonwealth or such locality, political\nsubdivision, public utility, or public service corporation. On all other\nprojects under this chapter, the Board shall pay the cost and expense of\nrelocation or removal as a part of the cost of the project for those public\nutility facilities owned or operated by the Commonwealth or such locality or\npolitical subdivision. The Commonwealth or such locality, political subdivision,\npublic utility, or public service corporation may maintain and operate such\npublic utility facilities with the necessary appurtenances in the new location\nfor as long a period and upon the same terms and conditions as it had the right\nto maintain and operate such public utility facilities in their former location;\n\n17. Acquire by the exercise of the power of eminent domain any lands, property,\nrights, rights-of-way, franchises, easements, and other property, including\npublic lands, parks, playgrounds, reservations, highways, or parkways, or parts\nthereof or rights therein, of any locality or political subdivision, deemed\nnecessary or convenient for the construction or the efficient operation of the\nproject or necessary in the restoration, replacement, or relocation of public or\nprivate property damaged or destroyed.\n\t\t\tThe cost of such projects shall be paid solely from the proceeds of\nCommonwealth of Virginia Toll or Transportation Contract Revenue Bonds or a\ncombination thereof or from such proceeds and from any grant or contribution\nthat may be made thereto pursuant to the provisions of this chapter;\n\n18. Notwithstanding any provision of this chapter to the contrary, the Board\nshall be authorized to exercise the powers conferred in this chapter, in\naddition to its general powers to acquire rights-of-way and to construct,\noperate, and maintain state highways, with respect to any project that the\nGeneral Assembly has authorized or may hereafter authorize to be financed in\nwhole or in part through the issuance of bonds of the Commonwealth pursuant to\nthe provisions of Article X, § 9 (c) of the Constitution of Virginia;\n\n19. Enter into any agreements or take such other actions as the Board determines\nin connection with applying for or obtaining any federal credit assistance,\nincluding without limitation loan guarantees and lines of credit, pursuant to\nauthorization from the U.S. Department of Transportation with respect to any\nproject included in the Commonwealth’s long-range transportation plan and\nthe approved State Transportation Improvement Program;\n\n20. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Passenger Rail Facilities Bonds,” secured,\nsubject to their appropriation by the General Assembly from net revenues\nresulting from tolls, rates, fees, and charges for or in connection with the\nuse, occupancy, and services of the Transform 66 Inside the Beltway express\nlanes project and remaining after payment of expenses incurred in operating such\nproject’s toll facilities; and\n\n21. Issue revenue bonds of the Commonwealth to be known and designated as\n“Commonwealth of Virginia Special Structures Program Revenue Bonds,”\nsecured, subject to their appropriation by the General Assembly, (i) first from\nrevenues received from the Special Structure Fund pursuant to § 33.2-1532;\n(ii) second and to the extent required, from revenues legally available from the\nTransportation Trust Fund; and (iii) then to the extent required, from any other\nlegally available funds.\n\nHISTORY: Code 1950, \u00a7 33-229; 1954, c. 319; 1970, c. 322, \u00a7 33.1-269; 1982, c.\n403; 1986, Sp. Sess., c. 13; 1988, cc. 844, 903; 1989, Sp. Sess., cc. 9, 11;\n1990, c. 710; 1991, cc. 666, 713; 1993, cc. 391, 793; 1994, cc. 233, 520, 589,\n662; 1995, c. 354; 1996, cc. 23, 143; 1999, c. 898; 2000, cc. 1019, 1044; 2004,\nc. 807; 2007, c. 896; 2011, cc. 830, 868; 2013, c. 639; 2014, c. 805; 2020, cc.\n1230, 1275; 2025, c. 327.","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}}