Commonwealth of Virginia Transform I-66 Corridor Outside the Beltway Bond Act of 2016; created. (SB60)

Introduced By

Sen. Emmett Hanger (R-Mount Solon)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Bonds; tolls on I-66. Authorizes the Treasury Board to issue bonds pursuant to Article X, Section 9 (c) of the Constitution of Virginia in an amount up to $1.5 billion plus financing costs to finance the costs of acquiring, constructing, and equipping dynamically tolled lanes on a portion of Interstate 66. Issuance of the bonds is contingent on (i) the Commissioner of Highways finding that the private parties are unable to deliver the I-66 project outside the Beltway in a way that meets the term sheet, (ii) the Transportation Public-Private Partnership Advisory Committee concurs with the Commissioner's finding, and (iii) that the Secretary of Finance further concurs and finds that the issuance of bonds is in the public interest. The bill is contingently effective on the requirements for changing the HOV-2 designation on I-66 being met and the Secretary certifying that such requirements have been met. No bonds shall be issued prior to February 20, 2017. Read the Bill »


Bill Has Failed


12/17/2015Prefiled and ordered printed; offered 01/13/16 16103324D
12/17/2015Referred to Committee on Finance
01/29/2016Impact statement from DPB (SB60)
02/09/2016Reported from Finance with substitute (15-Y 0-N) (see vote tally)
02/09/2016Committee substitute printed 16104967D-S1
02/10/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/11/2016Read second time
02/11/2016Reading of substitute waived
02/11/2016Committee substitute agreed to 16104967D-S1
02/11/2016Passed by for the day
02/15/2016Read second time
02/15/2016Engrossed by Senate - committee substitute SB60S1
02/15/2016Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/15/2016Passed Senate (27-Y 11-N) (see vote tally)
02/17/2016Placed on Calendar
02/17/2016Read first time
02/17/2016Referred to Committee on Appropriations
02/22/2016Assigned App. sub: Transportation
03/07/2016Continued to 2017 in Appropriations
12/01/2016Left in Appropriations