Suhas Subramanyam
- Democratic
- Senator
- District 32
Primary
Virginia Highway Corporation Act; alteration of certificate of authority; powers and duties of the State Corporation Commission. Requires any application for a transfer, extension, or amendment of a certificate of authority issued under the Virginia Highway Corporation Act to include information demonstrating the financial fitness of the entity applying to operate the roadway. The bill requires an applicant for a toll increase to provide a forward-looking analysis return that will be reviewed by the Department of Transportation that demonstrates that the proposed rates will be reasonable to the user in relation to the benefit obtained, not likely to materially discourage use of the roadway, and provide the operator no more than a reasonable return. The bill also prohibits the State Corporation Commission from authorizing a toll increase if these criteria are not met or if the proposed increase is for more than one year. The bill requires an operator to receive approval from the Commission prior to refinancing any existing debt.
Virginia Highway Corporation Act; alterationof certificate of authority; powers and duties of the State CorporationCommission. Requires any application for a transfer, extension, or amendment of a certificate of authority issued under the VirginiaHighway Corporation Act to include information demonstrating thefinancial fitness of the entity applying to operate the roadway.The bill requires an applicant for a toll increase to provide a forward-lookinganalysis return that will be reviewed by the Department of Transportationthat demonstrates that the proposed rates will be reasonable to theuser in relation to the benefit obtained, not likely to materiallydiscourage use of the roadway, and provide the operator no more thana reasonable return. The bill also prohibits the State CorporationCommission from authorizing a toll increase if these criteria arenot met or if the proposed increase is for more than one year. The bill requires an operator to receive approval from the Commissionprior to refinancing any existing debt.
Approved by Governor-Chapter 349 (effective 7/1/21)
Governor's Action Deadline 11:59 p.m., March 31, 2021
Enrolled Bill communicated to Governor on March 1, 20201
Impact statement from DPB (HB1832ER)
Signed by President
Signed by Speaker
Enrolled
Passed Senate (26-Y 13-N)
Passed Senate (33-Y 5-N)
Reconsideration of Senate passage agreed to by Senate (38-Y 0-N)
Read third time
Constitutional reading dispensed (39-Y 0-N)
Reported from Transportation (10-Y 5-N)
Rereferred to Transportation
Rereferred from Commerce and Labor (14-Y 0-N)
Impact statement from DPB (HB1832H1)
Continued to 2021 Sp. Sess. 1 in Commerce and Labor (15-Y 0-N)
Referred to Committee on Commerce and Labor
Constitutional reading dispensed
Read third time and passed House BLOCK VOTE (99-Y 0-N)
VOTE: Block Vote Passage (99-Y 0-N)
Read second time
Engrossed by House - committee substitute HB1832H1
Committee substitute agreed to 21103413D-H1
Read first time
Committee substitute printed 21103413D-H1
Reported from Transportation with substitute (20-Y 0-N)
House subcommittee amendments and substitutes offered
Subcommittee recommends reporting with substitute (10-Y 1-N)
Assigned Transportation sub: Transportation Systems
Referred to Committee on Transportation
Prefiled and ordered printed; offered 01/13/21 21101393D
| Bill Text Versions | Format |
|---|---|
| Prefiled and ordered printed; offered 01/13/21 21101393D | HTML |
| Committee substitute printed 21103413D-H1 | HTML |
| HB1832ER | HTML |
| CHAP0349 | HTML |
| Document | Format |
|---|---|
| No related documents. |
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