Virginia § 33.2-1526.4 - Commonwealth Rail Fund
Full text of Virginia Code of Virginia § 33.2-1526.4 — Commonwealth Rail Fund, with citation guidance and answers to common questions.
§ 33.2-1526.4. Commonwealth Rail Fund
A. The General Assembly declares it to be in the public interest that developing and continuing intercity passenger and freight rail operations and the development of rail infrastructure, rolling stock, and support facilities to support intercity passenger and freight rail service are important elements of a balanced transportation system in the Commonwealth and further declares it to be in the public interest that the retention, maintenance, improvement, and development of intercity passenger and freight rail-related infrastructure improvements and operations are essential to the Commonwealth's continued economic growth, vitality, and competitiveness in national and world markets.
B. There is hereby established in the state treasury a special nonreverting fund to be known as the Commonwealth Rail Fund (the Fund). The Fund shall be established on the books of the Comptroller and shall consist of funds dedicated pursuant to subdivision 3 of § 33.2-1524.1. 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 as provided in this section.
C. The amounts dedicated to the Fund pursuant to § 33.2-1524.1 shall be deposited monthly into the Fund. Thereafter, 93 percent shall be distributed to the Virginia Passenger Rail Authority as soon as practicable for use in accordance with the provisions of Article 6 (§ 33.2-287 et seq.) of Chapter 2. The remaining seven percent shall remain in the Fund for the Department of Rail and Public Transportation for planning purposes and for grants for rail projects not administered by the Virginia Passenger Rail Authority. The Department of Rail and Public Transportation may use up to 50 percent of its share of the moneys in the Fund for the purposes of the Shortline Railway Preservation and Development Fund created pursuant to § 33.2-1602.
Frequently Asked Questions About Virginia § 33.2-1526.4
What does Code of Virginia § 33.2-1526.4 cover?
Section 33.2-1526.4 ("Commonwealth Rail Fund") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 33.2-1526.4?
A common citation format is "Code of Virginia § 33.2-1526.4" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 33.2-1526.4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.