{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/33.2-365.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/33.2-365.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/33.2-365.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/33.2-365.html"}],"law_id":63826,"edition_id":1,"section_id":63826,"structure_id":14294,"section_number":"33.2-365","catch_line":"Allocation of proceeds of Commonwealth of Virginia Transportation Capital Projects Revenue Bonds","history":"2007, c. 896, \u00a7 33.1-23.4:01; 2011, cc. 830, 868; 2013, c. 639; 2014, c. 805; 2015, c. 684; 2020, cc. 1230, 1275.","full_text":"The Board shall allocate, use, and distribute the proceeds of any bonds it is authorized to issue on or after July 1, 2007, pursuant to subdivision 10 of \u00a7 33.2-1701, as follows:\n\n1\n\nA minimum of 20 percent of the bond proceeds shall be used for transit capital as further described in &#xA7; 33.2-1526.2.2\n\nA minimum of 4.3 percent of the bond proceeds shall be used for rail capital consistent with the provisions of &#xA7;&#xA7; 33.2-1526.2 and 33.2-1602.3\n\nThe remaining amount of bond proceeds shall be used for paying the costs incurred or to be incurred for construction of transportation projects with such bond proceeds used or allocated as follows: (i) first, to match federal highway funds projected to be made available and allocated to highway and public transportation capital projects to the extent determined by the Board, for purposes of allowing additional state construction funds to be allocated pursuant to &#xA7; 33.2-358; (ii) second, to provide any required funding to fulfill the Commonwealth&#8217;s allocation of equivalent revenue sharing matching funds pursuant to &#xA7; 33.2-357 to the extent determined by the Board; and (iii) third, to pay or fund the costs of statewide or regional projects throughout the Commonwealth. Costs incurred or to be incurred for construction or funding of these transportation projects shall include environmental and engineering studies; rights-of-way acquisition; improvements to all modes of transportation; acquisition, construction, and related improvements; and any financing costs or other financing expenses relating to such bonds. Such costs may include the payment of interest on such bonds for a period during construction and not exceeding one year after completion of construction of the relevant project.4\n\nThe total amount of bonds authorized shall be used for purposes of applying the percentages in subdivisions 1, 2, and 3.","order_by":null,"text":{"0":{"id":232523,"text":"The Board shall allocate, use, and distribute the proceeds of any bonds it is authorized to issue on or after July 1, 2007, pursuant to subdivision 10 of \u00a7 33.2-1701, as follows:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":232524,"text":"A minimum of 20 percent of the bond proceeds shall be used for transit capital as further described in &#xA7; 33.2-1526.2.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":232525,"text":"A minimum of 4.3 percent of the bond proceeds shall be used for rail capital consistent with the provisions of &#xA7;&#xA7; 33.2-1526.2 and 33.2-1602.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":232526,"text":"The remaining amount of bond proceeds shall be used for paying the costs incurred or to be incurred for construction of transportation projects with such bond proceeds used or allocated as follows: (i) first, to match federal highway funds projected to be made available and allocated to highway and public transportation capital projects to the extent determined by the Board, for purposes of allowing additional state construction funds to be allocated pursuant to &#xA7; 33.2-358; (ii) second, to provide any required funding to fulfill the Commonwealth&#8217;s allocation of equivalent revenue sharing matching funds pursuant to &#xA7; 33.2-357 to the extent determined by the Board; and (iii) third, to pay or fund the costs of statewide or regional projects throughout the Commonwealth. Costs incurred or to be incurred for construction or funding of these transportation projects shall include environmental and engineering studies; rights-of-way acquisition; improvements to all modes of transportation; acquisition, construction, and related improvements; and any financing costs or other financing expenses relating to such bonds. Such costs may include the payment of interest on such bonds for a period during construction and not exceeding one year after completion of construction of the relevant project.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":232527,"text":"The total amount of bonds authorized shall be used for purposes of applying the percentages in subdivisions 1, 2, and 3.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3"}},"ancestry":[{"id":14294,"edition_id":1,"name":"Allocation of Highway Funds","identifier":"5","label":"article","depth":4,"order_by":1,"parent_id":12831,"metadata":{},"date_created":"2026-06-26 03:47:37","date_modified":"2026-06-26 03:47:37","permalink":{"id":205955,"object_type":"structure","relational_id":14294,"identifier":"5","token":"33.2\/II\/3\/5","url":"\/33.2\/II\/3\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12831,"edition_id":1,"name":"Highway Systems","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12830,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":205741,"object_type":"structure","relational_id":12831,"identifier":"3","token":"33.2\/II\/3","url":"\/33.2\/II\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12830,"edition_id":1,"name":"Modes of Transportation: Highways, Bridges, Ferries, Rail, and Public Transportation","identifier":"II","label":"subtitle","depth":2,"order_by":1,"parent_id":12806,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":205369,"object_type":"structure","relational_id":12830,"identifier":"II","token":"33.2\/II","url":"\/33.2\/II\/","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":72011,"structure_id":14294,"section_number":"33.2-351","catch_line":"Definition of \"allocation.\"","url":"\/33.2-351\/","token":"33.2\/II\/3\/5\/33.2-351","metadata":false},{"id":77931,"structure_id":14294,"section_number":"33.2-352","catch_line":"Asset management practices; report","url":"\/33.2-352\/","token":"33.2\/II\/3\/5\/33.2-352","metadata":false},{"id":71190,"structure_id":14294,"section_number":"33.2-353","catch_line":"Commonwealth Transportation Board to develop and update Statewide Transportation Plan","url":"\/33.2-353\/","token":"33.2\/II\/3\/5\/33.2-353","metadata":false},{"id":66165,"structure_id":14294,"section_number":"33.2-354","catch_line":"Commonwealth Transportation Board to develop and update Statewide Pedestrian Policy","url":"\/33.2-354\/","token":"33.2\/II\/3\/5\/33.2-354","metadata":false},{"id":59775,"structure_id":14294,"section_number":"33.2-355","catch_line":"Goals for addressing transportation needs of populations with limited mobility","url":"\/33.2-355\/","token":"33.2\/II\/3\/5\/33.2-355","metadata":false},{"id":64387,"structure_id":14294,"section_number":"33.2-356","catch_line":"Funding for extraordinary repairs","url":"\/33.2-356\/","token":"33.2\/II\/3\/5\/33.2-356","metadata":false},{"id":74518,"structure_id":14294,"section_number":"33.2-357","catch_line":"Revenue-sharing funds for systems in certain localities","url":"\/33.2-357\/","token":"33.2\/II\/3\/5\/33.2-357","metadata":false},{"id":81138,"structure_id":14294,"section_number":"33.2-358","catch_line":"Allocation of funds to programs","url":"\/33.2-358\/","token":"33.2\/II\/3\/5\/33.2-358","metadata":false},{"id":79405,"structure_id":14294,"section_number":"33.2-359","catch_line":"Unpaved secondary highway funds","url":"\/33.2-359\/","token":"33.2\/II\/3\/5\/33.2-359","metadata":false},{"id":84144,"structure_id":14294,"section_number":"33.2-360","catch_line":"Allocation of funds for interstate match","url":"\/33.2-360\/","token":"33.2\/II\/3\/5\/33.2-360","metadata":false},{"id":55565,"structure_id":14294,"section_number":"33.2-361","catch_line":"Repealed","url":"\/33.2-361\/","token":"33.2\/II\/3\/5\/33.2-361","metadata":false},{"id":85834,"structure_id":14294,"section_number":"33.2-363","catch_line":"Construction of U.S. Route 29 bypass","url":"\/33.2-363\/","token":"33.2\/II\/3\/5\/33.2-363","metadata":false},{"id":79199,"structure_id":14294,"section_number":"33.2-364","catch_line":"Repealed","url":"\/33.2-364\/","token":"33.2\/II\/3\/5\/33.2-364","metadata":false},{"id":63826,"structure_id":14294,"section_number":"33.2-365","catch_line":"Allocation of proceeds of Commonwealth of Virginia Transportation Capital Projects Revenue Bonds","url":"\/33.2-365\/","token":"33.2\/II\/3\/5\/33.2-365","metadata":false},{"id":56905,"structure_id":14294,"section_number":"33.2-366","catch_line":"Funds for counties that have withdrawn or elect to withdraw from the secondary state highway system","url":"\/33.2-366\/","token":"33.2\/II\/3\/5\/33.2-366","metadata":false},{"id":70991,"structure_id":14294,"section_number":"33.2-367","catch_line":"Highway aid to mass transit","url":"\/33.2-367\/","token":"33.2\/II\/3\/5\/33.2-367","metadata":false},{"id":67021,"structure_id":14294,"section_number":"33.2-368","catch_line":"Financial plans for transportation construction projects","url":"\/33.2-368\/","token":"33.2\/II\/3\/5\/33.2-368","metadata":false},{"id":81188,"structure_id":14294,"section_number":"33.2-369","catch_line":"State of good repair","url":"\/33.2-369\/","token":"33.2\/II\/3\/5\/33.2-369","metadata":false},{"id":75809,"structure_id":14294,"section_number":"33.2-370","catch_line":"High-priority projects program","url":"\/33.2-370\/","token":"33.2\/II\/3\/5\/33.2-370","metadata":false},{"id":62249,"structure_id":14294,"section_number":"33.2-371","catch_line":"Highway construction district grant programs","url":"\/33.2-371\/","token":"33.2\/II\/3\/5\/33.2-371","metadata":false},{"id":81805,"structure_id":14294,"section_number":"33.2-372","catch_line":"Interstate Operations and Enhancement Program","url":"\/33.2-372\/","token":"33.2\/II\/3\/5\/33.2-372","metadata":false},{"id":69946,"structure_id":14294,"section_number":"33.2-373","catch_line":"Virginia Highway Safety Improvement Program","url":"\/33.2-373\/","token":"33.2\/II\/3\/5\/33.2-373","metadata":false},{"id":86438,"structure_id":14294,"section_number":"33.2-374","catch_line":"Special Structure Program","url":"\/33.2-374\/","token":"33.2\/II\/3\/5\/33.2-374","metadata":false}],"previous_section":{"id":79199,"structure_id":14294,"section_number":"33.2-364","catch_line":"Repealed","url":"\/33.2-364\/","token":"33.2\/II\/3\/5\/33.2-364","metadata":false},"next_section":{"id":56905,"structure_id":14294,"section_number":"33.2-366","catch_line":"Funds for counties that have withdrawn or elect to withdraw from the secondary state highway system","url":"\/33.2-366\/","token":"33.2\/II\/3\/5\/33.2-366","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/33.2-365\/","history_text":"<p>This law was first created in 2007. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?071+ful+CHAP0896\">896<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 5 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 2011, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?111+ful+CHAP0830\">830<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?111+ful+CHAP0868\">868<\/a>; in 2013, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?131+ful+CHAP0639\">639<\/a>; in 2014, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?141+ful+CHAP0805\">805<\/a>; in 2015, chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?151+ful+CHAP0684\">684<\/a>; in 2020, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1230\">1230<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?201+ful+CHAP1275\">1275<\/a>.<\/p>","references":false,"refers_to":[{"id":86224,"section_number":"33.2-1526.2","catch_line":"Commonwealth Transit Capital Fund","order_by":null,"url":"\/33.2-1526.2\/"},{"id":84701,"section_number":"33.2-1701","catch_line":"General powers of Commonwealth Transportation Board","order_by":null,"url":"\/33.2-1701\/"},{"id":74518,"section_number":"33.2-357","catch_line":"Revenue-sharing funds for systems in certain localities","order_by":null,"url":"\/33.2-357\/"},{"id":81138,"section_number":"33.2-358","catch_line":"Allocation of funds to programs","order_by":null,"url":"\/33.2-358\/"}],"permalink":{"id":206009,"object_type":"law","relational_id":63826,"identifier":"33.2-365","token":"33.2\/II\/3\/5\/33.2-365","url":"\/33.2-365\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/33.2-365\/","token":"33.2\/II\/3\/5\/33.2-365","dublin_core":{"Title":"Allocation of proceeds of Commonwealth of Virginia Transportation Capital Projects Revenue Bonds","Type":"Text","Format":"text\/html","Identifier":"\u00a7 33.2-365","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The <span class=\"dictionary\">Board<\/span> shall allocate, use, and distribute the proceeds of any <span class=\"dictionary\">bonds<\/span> it is authorized to <span class=\"dictionary\">issue<\/span> on or after July 1, 2007, pursuant to subdivision 10 of \u00a7&nbsp;<a class=\"law\" title=\"General powers of Commonwealth Transportation Board\" href=\"\/33.2-1701\/\">33.2-1701<\/a>, as follows:<\/p><\/section>\n\t\t\t\t\t\t<section id=\"1\"><p><span class=\"prefix-number\">1.<\/span> A minimum of 20 percent of the <span class=\"dictionary\">bond<\/span> proceeds shall be used for transit capital as further described in &#xA7; <a class=\"law\" title=\"Commonwealth Transit Capital Fund\" href=\"\/33.2-1526.2\/\">33.2-1526.2<\/a>. <a id=\"paragraph-232524\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/33.2-365\/#1\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"2\"><p><span class=\"prefix-number\">2.<\/span> A minimum of 4.3 percent of the <span class=\"dictionary\">bond<\/span> proceeds shall be used for rail capital consistent with the provisions of &#xA7;&#xA7; <a class=\"law\" title=\"Commonwealth Transit Capital Fund\" href=\"\/33.2-1526.2\/\">33.2-1526.2<\/a> and <a class=\"law\" title=\"Shortline Railway Preservation and Development Fund\" href=\"\/33.2-1602\/\">33.2-1602<\/a>. <a id=\"paragraph-232525\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/33.2-365\/#2\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"3\"><p><span class=\"prefix-number\">3.<\/span> The remaining amount of <span class=\"dictionary\">bond<\/span> proceeds shall be used for paying the costs incurred or to be incurred for construction of transportation projects with such <span class=\"dictionary\">bond<\/span> proceeds used or allocated as follows: (i) first, to match federal <span class=\"dictionary\">highway<\/span> funds projected to be made available and allocated to <span class=\"dictionary\">highway<\/span> and <span class=\"dictionary\">public transportation<\/span> capital projects to the extent determined by the <span class=\"dictionary\">Board<\/span>, for purposes of allowing additional state construction funds to be allocated pursuant to &#xA7; <a class=\"law\" title=\"Allocation of funds to programs\" href=\"\/33.2-358\/\">33.2-358<\/a>; (ii) second, to provide any required funding to fulfill the Commonwealth&#8217;s allocation of equivalent revenue sharing matching funds pursuant to &#xA7; <a class=\"law\" title=\"Revenue-sharing funds for systems in certain localities\" href=\"\/33.2-357\/\">33.2-357<\/a> to the extent determined by the <span class=\"dictionary\">Board<\/span>; and (iii) third, to pay or fund the costs of statewide or regional projects throughout the Commonwealth. Costs incurred or to be incurred for construction or funding of these transportation projects shall include environmental and engineering studies; rights-of-way acquisition; improvements to all modes of transportation; acquisition, construction, and related improvements; and any financing costs or other financing expenses relating to such <span class=\"dictionary\">bonds<\/span>. Such costs may include the payment of interest on such <span class=\"dictionary\">bonds<\/span> for a period during construction and not exceeding one year after completion of construction of the relevant project. <a id=\"paragraph-232526\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/33.2-365\/#3\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t<section id=\"4\"><p><span class=\"prefix-number\">4.<\/span> The total amount of <span class=\"dictionary\">bonds<\/span> authorized shall be used for purposes of applying the percentages in subdivisions 1, 2, and 3. <a id=\"paragraph-232527\" class=\"section-permalink\" href=\"https:\/\/vacode.org\/33.2-365\/#4\"><i class=\"fa fa-link\"><\/i><\/a><\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nALLOCATION OF PROCEEDS OF COMMONWEALTH OF VIRGINIA TRANSPORTATION CAPITAL\nPROJECTS REVENUE BONDS (\u00a7 33.2-365)\n\nThe Board shall allocate, use, and distribute the proceeds of any bonds it is\nauthorized to issue on or after July 1, 2007, pursuant to subdivision 10 of \u00a7\n33.2-1701, as follows:\n\n1. A minimum of 20 percent of the bond proceeds shall be used for transit\ncapital as further described in &#xA7; 33.2-1526.2.\n\n2. A minimum of 4.3 percent of the bond proceeds shall be used for rail capital\nconsistent with the provisions of &#xA7;&#xA7; 33.2-1526.2 and 33.2-1602.\n\n3. The remaining amount of bond proceeds shall be used for paying the costs\nincurred or to be incurred for construction of transportation projects with such\nbond proceeds used or allocated as follows: (i) first, to match federal highway\nfunds projected to be made available and allocated to highway and public\ntransportation capital projects to the extent determined by the Board, for\npurposes of allowing additional state construction funds to be allocated\npursuant to &#xA7; 33.2-358; (ii) second, to provide any required funding to\nfulfill the Commonwealth&#8217;s allocation of equivalent revenue sharing\nmatching funds pursuant to &#xA7; 33.2-357 to the extent determined by the\nBoard; and (iii) third, to pay or fund the costs of statewide or regional\nprojects throughout the Commonwealth. Costs incurred or to be incurred for\nconstruction or funding of these transportation projects shall include\nenvironmental and engineering studies; rights-of-way acquisition; improvements\nto all modes of transportation; acquisition, construction, and related\nimprovements; and any financing costs or other financing expenses relating to\nsuch bonds. Such costs may include the payment of interest on such bonds for a\nperiod during construction and not exceeding one year after completion of\nconstruction of the relevant project.\n\n4. The total amount of bonds authorized shall be used for purposes of applying\nthe percentages in subdivisions 1, 2, and 3.\n\nHISTORY: 2007, c. 896, \u00a7 33.1-23.4:01; 2011, cc. 830, 868; 2013, c. 639; 2014,\nc. 805; 2015, c. 684; 2020, cc. 1230, 1275.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}