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2021 SESSION
HB 1832 Virginia Highway Corporation Act; alteration of certificate of authority, powers and duties of SCC.
Introduced by: Suhas Subramanyam | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
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.
FULL TEXT
- 01/06/21 House: Prefiled and ordered printed; offered 01/13/21 21101393D pdf
- 01/26/21 House: Committee substitute printed 21103413D-H1 pdf
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
HISTORY
- 01/06/21 House: Prefiled and ordered printed; offered 01/13/21 21101393D
- 01/06/21 House: Referred to Committee on Transportation
- 01/12/21 House: Assigned Transportation sub: Transportation Systems
- 01/21/21 House: Subcommittee recommends reporting with substitute (10-Y 1-N)
- 01/26/21 House: Reported from Transportation with substitute (20-Y 0-N)
- 01/26/21 House: Committee substitute printed 21103413D-H1
- 01/27/21 House: Read first time
- 01/28/21 House: Read second time
- 01/28/21 House: Committee substitute agreed to 21103413D-H1
- 01/28/21 House: Engrossed by House - committee substitute HB1832H1
- 01/29/21 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 01/29/21 House: VOTE: Block Vote Passage (99-Y 0-N)
- 02/01/21 Senate: Constitutional reading dispensed
- 02/01/21 Senate: Referred to Committee on Commerce and Labor
- 02/05/21 Senate: Continued to 2021 Sp. Sess. 1 in Commerce and Labor (15-Y 0-N)