Notwithstanding the requirements of Chapter 34 (§ 15.2-3400 et seq.) of Title 15.2, the members may agree to a revenue and economic growth-sharing arrangement with respect to tax revenues and other income and revenues generated by any facility owned by the authority. Such members may be located in any jurisdiction participating in the Appalachian Region Interstate Compact or a similar agreement of interstate cooperation for economic development authorized by law. The obligations of the parties to any such agreement shall not be construed to be debt within the meaning of Article VII, Section 10 of the Constitution of Virginia. Any such agreement shall be approved by a majority vote of the governing bodies of the members reaching such an agreement but shall not require any other approval.
2021, Sp. Sess. I, cc. 353, 354.
Structure Code of Virginia
Title 33.2 - Highways and Other Surface Transportation Systems
Chapter 38 - New River Valley Passenger Rail Station Authority
§ 33.2-3801. Findings; purpose; governmental function
§ 33.2-3802. Creation of the authority
§ 33.2-3803. Board of the authority
§ 33.2-3804. Office of authority; title to property
§ 33.2-3805. Powers of the authority
§ 33.2-3806. Donations to authority; remittance of tax revenue
§ 33.2-3807. Revenue sharing agreements
§ 33.2-3808. Applicability of land use regulations
§ 33.2-3809. Bond issues; contesting validity of bonds
§ 33.2-3810. Investment in bonds
§ 33.2-3811. Bonds exempt from taxation
§ 33.2-3812. Tax revenues of the Commonwealth or any other political subdivisions not pledged
§ 33.2-3813. Forms of accounts and records; audit of same