Virginia § 33.2-1526.5 - Commonwealth Port Fund
Full text of Virginia Code of Virginia § 33.2-1526.5 — Commonwealth Port Fund, with citation guidance and answers to common questions.
§ 33.2-1526.5. Commonwealth Port Fund
A. There is hereby created in the Department of the Treasury a special nonreverting fund that shall be a part of the Transportation Trust Fund and shall be known as the Commonwealth Port Fund (the Fund).
B. The Fund shall be established on the books of the Comptroller and the funds remaining in such Fund at the end of a biennium shall not revert to the general fund but shall remain in the Fund. Interest earned on such funds shall remain in the Fund and be credited to it. Funds may be paid to any authority, locality, or commission for the purposes hereinafter specified.
C. The amounts allocated pursuant to this section shall be allocated by the Board to the Board of Commissioners of the Virginia Port Authority to be used to support port capital needs and the preservation of existing capital needs of all ocean, river, or tributary ports within the Commonwealth. Expenditures for such capital needs are restricted to those capital projects specified in subsection B of § 62.1-132.1.
D. Fund revenue shall be allocated by the Board of Commissioners to the Virginia Port Authority in order to foster and stimulate the flow of maritime commerce through the ports of Virginia, including but not limited to the ports of Richmond, Hopewell, and Alexandria.
Frequently Asked Questions About Virginia § 33.2-1526.5
What does Code of Virginia § 33.2-1526.5 cover?
Section 33.2-1526.5 ("Commonwealth Port 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 § 33.2-1526.5?
A common citation format is "Code of Virginia § 33.2-1526.5" (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 § 33.2-1526.5 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.