Study of the Proposed Virginia Rail Transportation Development Authority

摘要

Senate Bill 1279, passed by the Virginia General Assembly in 2003, calls for the creation of the Virginia Rail Transportation Development Authority. The purpose of this authority is to finance or assist in the financing of the construction, repair, renovation, restoration, acquisition, and extension of rail lines, equipment, and facilities in the Commonwealth, including rolling stock, shops, terminals, bridges, tunnels, and any other passenger rail or freight rail facilities, equipment or infrastructure, upon a determination by the authority that such action is in the public interest.. Senate Joint Resolution 354 provides the following argument for creating the new rail authority: (1) appropriate investments in railroad infrastructure will divert passenger and freight traffic from the highways to the railroads; (2) this will reduce the need for highway maintenance and construction, and it will reduce congestion, promote safety, and make it possible to avoid significant air and water pollution; (3) the railroads in Virginia do not have the financial resources to make the needed investments; and thus (4) a new rail authority is needed to finance or assist in the financing of the needed investments.