SB 611

  • Virginia Senate Bill
  • 2024 Regular Session
  • Introduced in Senate Jan 10, 2024
  • Senate
  • House
  • Governor

Dulles Greenway; powers and responsibilities of SCC to regulate toll road operators.

Abstract

Dulles Greenway; powers and responsibilities of State Corporation Commission to regulate toll road operators. Amends the powers and responsibilities of the State Corporation Commission (the Commission) to regulate toll road operators under the Virginia Highway Corporation Act of 1988. The bill (i) requires the full disclosure, in public financial reports to the Commission, of the details of any related party transactions and (ii) establishes a presumption that any related party transactions, as defined in the bill, shall be presumed to be imprudent and excluded from costs used for any purpose, including the costs of lobbyists, excessive compensation, and entertainment expenses, unless the operator provides information showing that at least three separate competitive bids demonstrate that the operator could not have achieved better contract terms from a third party. The bill clarifies that the Commission has the authority to lower toll rates for a toll road if it finds in its analysis that an operator is materially discouraging use of the road due to its current toll rates and to implement tolling based on the distance that a user has traveled if it determines it is in the best interest of toll road users.

Bill Sponsors (1)

Votes


Actions


Feb 14, 2024

Senate

Left in Finance and Appropriations

Jan 26, 2024

Senate

Impact statement from SCC (SB611)

Jan 10, 2024

Senate

Prefiled and ordered printed; offered 01/10/24 24102743D

Senate

Referred to Committee on Finance and Appropriations

Bill Text

Bill Text Versions Format
Prefiled and ordered printed; offered 01/10/24 24102743D PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: SB611F171.PDF PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the Virginia General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.