                                 CODE OF VIRGINIA

VIRGINIA BARGE AND RAIL USAGE GRANT PROGRAM AND FUND (§ 62.1-132.3:6)

A. As used in this section:
			&#8220;Barge and rail cargo volume&#8221; means the total amount of (i) net
tons of noncontainerized cargo, (ii) TEUs of cargo, or (iii) units of
roll-on/roll-off cargo actually by barge or rail rather than by trucks or other
motor vehicles on the Commonwealth&#8217;s highways, measured from January 1
through December 31 of each calendar year.
			&#8220;International trade facility&#8221; means a company that:

   1. Does business in the Commonwealth and is engaged in port-related
   activities, including warehousing, distribution, freight forwarding and
   handling, and goods processing;

   2. Has the sole discretion and authority to move cargo originating or
   terminating in the Commonwealth;

   3. Uses maritime port facilities located in the Commonwealth; and

   4. Uses barges and rail systems to move cargo through port facilities in the
   Commonwealth rather than trucks or other motor vehicles on the
   Commonwealth&#8217;s highways.

B. There is hereby created in the state treasury a special nonreverting fund to
be known as the Virginia Barge and Rail Usage Grant Fund, referred to in this
section as &#8220;the Fund.&#8221; The Fund shall be established on the books of
the Comptroller. All funds appropriated for such purpose and any gifts,
donations, grants, bequests, and other funds received on its behalf shall be
paid into the state treasury and credited to the Fund. Interest earned on moneys
in the Fund shall remain in the Fund and be credited to it. Any moneys remaining
in the Fund, including interest thereon, at the end of each fiscal year shall
not revert to the general fund but shall remain in the Fund. Moneys in the Fund
shall be used solely for the purpose of providing grants to international trade
facilities pursuant to subsections C and D. Expenditures and disbursements from
the Fund, which shall be in the form of grants, shall be made by the State
Treasurer on warrants issued by the Comptroller upon written request signed by
the Executive Director.

C. 1. Beginning January 1, 2025, an international trade facility shall be
eligible to receive a grant from the Fund in an amount determined by the
Virginia Port Authority in accordance with subdivision 2.

   2. The amount of the grant shall be $25 per 20-foot equivalent unit (TEU), 16
   tons of noncontainerized cargo, or one unit of roll-on/roll-off cargo moved by
   barge or rail rather than by trucks or other motor vehicles on the
   Commonwealth&#8217;s highways.

   3. Applicants shall be required to increase their barge and rail cargo volume
   for a calendar year by at least five percent above the preceding calendar
   year&#8217;s volume in order to be eligible for the grant.

D. The Virginia Port Authority shall issue the grants under this section, and in
no case shall more than $1 million in grants be issued pursuant to this section
in any fiscal year of the Commonwealth. In the event that the amount of eligible
grants requested in a fiscal year exceeds the funds available in the Fund or $1
million, such grants shall be paid in the next fiscal year in which funds are
available. The international trade facility shall not receive any grant under
this section unless it has applied to the Virginia Port Authority for the grant
and the Virginia Port Authority has approved the grant. The Virginia Port
Authority shall determine the grant amount allowable for the year and shall
provide a written certification to the international trade facility, which
certification shall report the amount of the grant approved by the Virginia Port
Authority.

E. The Virginia Port Authority shall not make awards under this section to
applicants who are receiving tax credits for under &#xA7; 58.1-439.12:09 for the
same cargo.

F. The Virginia Port Authority shall develop guidelines establishing procedures
and requirements for qualifying for grants under this section. The guidelines
shall be exempt from the Administrative Process Act (&#xA7; 2.2-4000 et seq.).

HISTORY: 2023, cc. 238, 239.