{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-523.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-523.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-523.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-523.html"}],"law_id":86625,"edition_id":1,"section_id":86625,"structure_id":14707,"section_number":"56-523","catch_line":"Definitions","history":"1952, c. 696.","full_text":"The words “utilities” or “public utilities” when used in this chapter shall be construed to mean any person, partnership, association or corporation, engaged in the business of furnishing electric power, water, light, heat, gas, transportation or communication, or any one or more of them, to the people of Virginia.\n\t\t“Net income” with respect to operation of a utility by the Commonwealth shall be construed to mean the gross revenues derived from such operation after deducting therefrom:\n\n1\n\nThe costs of operation and maintenance of the utility,2\n\nThe amount of depreciation during the time of such operation based on the amount allowed in the utility’s federal income tax return,3\n\nFederal, state, and local taxes which would be payable by the utility, if the properties were operated by it,4\n\nInterest on the indebtedness of the utility, and5\n\nPayments for the cost of insurance.\n\t\t\tAll of such items shall be prorated on an annual basis in proportion to the time the plant is operated by the Commonwealth.","order_by":null,"text":{"0":{"id":310240,"text":"The words “utilities” or “public utilities” when used in this chapter shall be construed to mean any person, partnership, association or corporation, engaged in the business of furnishing electric power, water, light, heat, gas, transportation or communication, or any one or more of them, to the people of Virginia.\n\t\t“Net income” with respect to operation of a utility by the Commonwealth shall be construed to mean the gross revenues derived from such operation after deducting therefrom:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":310241,"text":"The costs of operation and maintenance of the utility,","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":310242,"text":"The amount of depreciation during the time of such operation based on the amount allowed in the utility’s federal income tax return,","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":310243,"text":"Federal, state, and local taxes which would be payable by the utility, if the properties were operated by it,","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":310244,"text":"Interest on the indebtedness of the utility, and","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":310245,"text":"Payments for the cost of insurance.\n\t\t\tAll of such items shall be prorated on an annual basis in proportion to the time the plant is operated by the Commonwealth.","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4"}},"ancestry":[{"id":14707,"edition_id":1,"name":"State Operation of Public Utilities","identifier":"17","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:49:26","date_modified":"2026-06-26 03:49:26","permalink":{"id":250249,"object_type":"structure","relational_id":14707,"identifier":"17","token":"56\/17","url":"\/56\/17\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":56358,"structure_id":14707,"section_number":"56-509","catch_line":"Uninterrupted functioning and operation of essential public utilities","url":"\/56-509\/","token":"56\/17\/56-509","metadata":false},{"id":73501,"structure_id":14707,"section_number":"56-510","catch_line":"Duty of Governor when there is threat of curtailment, interruption, etc., of operation","url":"\/56-510\/","token":"56\/17\/56-510","metadata":false},{"id":61223,"structure_id":14707,"section_number":"56-511","catch_line":"Power of Governor to possess and operate utility","url":"\/56-511\/","token":"56\/17\/56-511","metadata":false},{"id":67658,"structure_id":14707,"section_number":"56-512","catch_line":"Employment of utility employees by Commonwealth; information to be furnished","url":"\/56-512\/","token":"56\/17\/56-512","metadata":false},{"id":82132,"structure_id":14707,"section_number":"56-513","catch_line":"Replacement of utility employees unwilling to work for Commonwealth","url":"\/56-513\/","token":"56\/17\/56-513","metadata":false},{"id":85186,"structure_id":14707,"section_number":"56-514","catch_line":"Status as employee of utility unaffected by acceptance or refusal of employment by Commonwealth","url":"\/56-514\/","token":"56\/17\/56-514","metadata":false},{"id":74359,"structure_id":14707,"section_number":"56-515","catch_line":"Entry upon property of utility after proclamation of intention to take possession","url":"\/56-515\/","token":"56\/17\/56-515","metadata":false},{"id":78487,"structure_id":14707,"section_number":"56-516","catch_line":"When possession of utility to be delivered; procedure upon refusal of possession","url":"\/56-516\/","token":"56\/17\/56-516","metadata":false},{"id":61416,"structure_id":14707,"section_number":"56-517","catch_line":"Interference with or obstruction of Governor, state representative or agent","url":"\/56-517\/","token":"56\/17\/56-517","metadata":false},{"id":79373,"structure_id":14707,"section_number":"56-518","catch_line":"Expense of operation, etc.; payment of revenues, etc., into state treasury","url":"\/56-518\/","token":"56\/17\/56-518","metadata":false},{"id":73986,"structure_id":14707,"section_number":"56-519","catch_line":"Previously established salaries, wages, conditions of employment, etc., to be observed; collective bargaining","url":"\/56-519\/","token":"56\/17\/56-519","metadata":false},{"id":69360,"structure_id":14707,"section_number":"56-520","catch_line":"Collection and disposition of revenues accruing from utility","url":"\/56-520\/","token":"56\/17\/56-520","metadata":false},{"id":81570,"structure_id":14707,"section_number":"56-521","catch_line":"Restoring possession to utility","url":"\/56-521\/","token":"56\/17\/56-521","metadata":false},{"id":64051,"structure_id":14707,"section_number":"56-522","catch_line":"Compensation to utility","url":"\/56-522\/","token":"56\/17\/56-522","metadata":false},{"id":86625,"structure_id":14707,"section_number":"56-523","catch_line":"Definitions","url":"\/56-523\/","token":"56\/17\/56-523","metadata":false},{"id":73606,"structure_id":14707,"section_number":"56-524","catch_line":"Penalties","url":"\/56-524\/","token":"56\/17\/56-524","metadata":false},{"id":62983,"structure_id":14707,"section_number":"56-525","catch_line":"Injunction against violation of chapter","url":"\/56-525\/","token":"56\/17\/56-525","metadata":false},{"id":81545,"structure_id":14707,"section_number":"56-526","catch_line":"Duty of Commonwealth's attorneys and Attorney General; employment of special counsel","url":"\/56-526\/","token":"56\/17\/56-526","metadata":false},{"id":86351,"structure_id":14707,"section_number":"56-527","catch_line":"Chapter not applicable to certain carriers","url":"\/56-527\/","token":"56\/17\/56-527","metadata":false},{"id":64842,"structure_id":14707,"section_number":"56-528","catch_line":"Governor's powers as commander in chief not impaired","url":"\/56-528\/","token":"56\/17\/56-528","metadata":false}],"previous_section":{"id":64051,"structure_id":14707,"section_number":"56-522","catch_line":"Compensation to utility","url":"\/56-522\/","token":"56\/17\/56-522","metadata":false},"next_section":{"id":73606,"structure_id":14707,"section_number":"56-524","catch_line":"Penalties","url":"\/56-524\/","token":"56\/17\/56-524","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-523\/","history_text":"

This law was first created in 1952. The record of its establishment is cataloged in chapter 696 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. Unfortunately, the 1952 \u201cActs\u201d aren\u2019t available online.<\/p>","references":[{"id":69360,"section_number":"56-520","catch_line":"Collection and disposition of revenues accruing from utility","order_by":null,"url":"\/56-520\/"}],"refers_to":false,"permalink":{"id":250307,"object_type":"law","relational_id":86625,"identifier":"56-523","token":"56\/17\/56-523","url":"\/56-523\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-523\/","token":"56\/17\/56-523","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-523","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The words “utilities” or “public utilities” when used in this chapter shall be construed to mean any person<\/span>, partnership, association or corporation<\/span>, engaged in the business of furnishing electric power, water, light, heat, gas, transportation or communication, or any one or more of them, to the people of Virginia.\n\t\t“Net income<\/span>” with respect to operation of a utility by the Commonwealth shall be construed to mean the gross revenues derived from such operation after deducting therefrom:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The costs of operation and maintenance of the utility, <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The amount of depreciation during the time of such operation based on the amount allowed in the utility’s federal income tax return, <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Federal, state, and local taxes which would be payable by the utility, if the properties were operated by it, <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Interest on the indebtedness of the utility, and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Payments for the cost of insurance.\n\t\t\tAll of such items shall be prorated on an annual basis in proportion to the time the plant is operated by the Commonwealth. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 56-523)\n\nThe words “utilities” or “public utilities” when used in\nthis chapter shall be construed to mean any person, partnership, association or\ncorporation, engaged in the business of furnishing electric power, water, light,\nheat, gas, transportation or communication, or any one or more of them, to the\npeople of Virginia.\n\t\t“Net income” with respect to operation of a utility by the\nCommonwealth shall be construed to mean the gross revenues derived from such\noperation after deducting therefrom:\n\n1. The costs of operation and maintenance of the utility,\n\n2. The amount of depreciation during the time of such operation based on the\namount allowed in the utility’s federal income tax return,\n\n3. Federal, state, and local taxes which would be payable by the utility, if the\nproperties were operated by it,\n\n4. Interest on the indebtedness of the utility, and\n\n5. Payments for the cost of insurance.\n\t\t\tAll of such items shall be prorated on an annual basis in proportion to the\ntime the plant is operated by the Commonwealth.\n\nHISTORY: 1952, c. 696.","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}}