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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>87012</law_id><section_number>33.2-3806</section_number><catch_line>Donations to authority; remittance of tax revenue</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="33.2">Highways and Other Surface Transportation Systems</unit><unit label="subtitle" level="2" order_by="1" identifier="IV">Local and Regional Transportation</unit><unit label="chapter" level="3" order_by="1" identifier="38">New River Valley Passenger Rail Station Authority</unit></structure><text>
						<section><p><span class="dictionary">Authority</span> <span class="dictionary">members</span> are hereby authorized to lend or donate money or other property to the <span class="dictionary">authority</span> for any of its purposes. The member making the grant or loan may restrict the use of such grants or loans to a specific <span class="dictionary">facility</span> owned by the <span class="dictionary">authority</span>, within or outside the geographical area of the member.
		The governing body of the member in which a <span class="dictionary">facility</span> owned by the <span class="dictionary">authority</span> is located may direct, by resolution or <span class="dictionary">ordinance</span>, that all tax revenue collected with respect to the <span class="dictionary">facility</span> shall be remitted to the <span class="dictionary">authority</span>. Such <span class="dictionary">revenues</span> may be used for the payment of debt service on <span class="dictionary">bonds</span> of the <span class="dictionary">authority</span> and other obligations of the <span class="dictionary">authority</span> incurred with respect to such <span class="dictionary">facility</span>. The action of such governing body shall not constitute a pledge of credit or taxing power of such member.</p></section></text><history>2021, Sp. Sess. I, cc. 353, 354.</history><metadata></metadata></law>
