Dulles Greenway; toll rates.
If enacted, SB887 would significantly alter the landscape of toll road management in Virginia by reinforcing the commission's authority to regulate toll rates based on a standardized methodology. This could lead to increased scrutiny of toll adjustments, ensuring they are justified through a forwarding analysis that considers projected traffic levels and economic conditions. The intention is to foster transparency and fairness in how toll rates are set, benefiting the public while still allowing operators to cover their operational and maintenance costs.
Senate Bill 887 aims to amend and reenact Section 56-542 of the Code of Virginia, which pertains to the Virginia Highway Corporation Act of 1988, particularly focusing on the regulation of toll rates on the Dulles Greenway. This legislative initiative is designed to empower the regulatory commission to scrutinize and approve toll rates charged by the operator, ensuring they are reasonable and equitable for users while providing the operator with a reasonable return on investment. The bill emphasizes that initial toll rates must not discourage roadway use and must reflect the costs reasonably apportioned across all users based on their distance traveled on the toll route.
Some concerns may arise about the enforceability of these regulations and whether they sufficiently protect consumers from exorbitant toll rates while ensuring that operators can maintain and improve the road infrastructure. Potential points of contention may include debates on what constitutes 'reasonable return' and how any changes in facility ownership or operational control could affect toll rates. Furthermore, the bill might face scrutiny regarding the balance of interests between public accessibility and the financial viability of toll operators.