                                 CODE OF VIRGINIA

PUBLIC SECTOR ANALYSIS AND COMPETITION (§ 33.2-1803.1:1)

A. For any transportation facility under consideration for development and/or
operation under this chapter by the Department of Transportation, the Virginia
Passenger Rail Authority, or the Department of Rail and Public Transportation,
the responsible public entity shall ensure competition throughout the
procurement process by developing a public sector option based on the analysis
conducted in subsection B. The public sector option shall identify a maximum
public contribution.

B. The responsible public entity shall undertake, in cooperation with the
Secretary of Transportation and the Secretary of Finance, a public sector
analysis of the cost for the responsible entity to develop and/or operate the
transportation facility or facilities being considered for development and/or
operation pursuant to this chapter. At a minimum, such analysis shall contain
the following information:

   1. Any mitigation of risk of user-fee financing through assumptions related to
   competing facilities, compensation for high usage of the facility by
   high-occupancy vehicles, or other considerations that may mitigate the risk of
   user-fee financing.

   2. Whether the Department of Transportation, the Virginia Passenger Rail
   Authority, or the Department of Rail and Public Transportation intends to
   maintain and operate the facility, or if the public sector option is based on
   the transfer of such responsibilities to the private sector.

   3. Public contribution, if any, that would still be required to cover all
   costs necessary for the development and/or operation of the transportation
   facility in excess of financing available should the General Assembly
   authorize the use of debt secured by a pledge of net revenues derived from
   rates, fees, or other charges and the full faith and credit of the
   Commonwealth pursuant to Article X, Section 9 (c) of the Constitution of
   Virginia.

   4. Funds provided to support nonuser fee generating components of the project
   that contribute to the benefits expected to be realized from the
   transportation facility pursuant to subdivision B 1 of &#xA7; 33.2-1803.1.

HISTORY: 2017, cc. 539, 551; 2020, cc. 1230, 1275.