VirginiaHB14482026 Regular SessionHouseWALLET

Petersburg Parking Authority; created.

Sponsored By: Kimberly Pope Adams (Democratic)

Became Law

Summary

Petersburg Parking Authority Act. Authorizes the creation of the Petersburg Parking Authority. The bill grants to the Authority various powers, including the authority to construct, operate, and lease parking facilities, contract with outside entities, issue revenue bonds and revenue refunding bonds, and acquire property. The bill also exempts the Authority from taxation.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

State tax break for parking bonds

The Authority, its parking facilities, and their income are exempt from Virginia taxes and assessments. Bonds issued under this law, their transfers, and the interest and any profit on sale are not taxed by the Commonwealth.

Authority sets parking prices in Petersburg

The Authority builds, leases, and runs off‑street parking in Petersburg. It sets parking rates, rentals, and fees on its own; no state or local agency reviews those prices. Rates must cover operating and maintenance costs, bond payments, and required reserves. Parking areas under this law cannot sell or dispense products or services used to service motor vehicles.

Parking bonds and investor protections

The Authority may issue revenue bonds to fund parking projects, with terms up to 40 years, sold at public or private sale, and redeemable early. These bonds are paid only from Authority revenues and are not debts of the Commonwealth or the city. The Authority can pledge revenues under a trust; money is held as trust funds, and bondholders and trustees can enforce rights in court. The Authority may refinance old bonds and combine refunding with new projects. The city may contribute or advance funds for startup or project costs.

City can form Petersburg Parking Authority

The City may create the Petersburg Parking Authority by resolution after a public hearing with at least 10 days’ published notice. Once organized, the Authority becomes a public body of Virginia. The board has five members with initial 1–5 year staggered terms; later terms are five years. Members take an oath and serve unpaid, but the Authority can reimburse actual expenses. The city manager (or a designee) sits as a nonvoting member. The board can act by resolution, which takes effect right away and does not need to be posted or published.

Sponsors & Cosponsors

Sponsor

  • Kimberly Pope Adams

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 254 • No: 18

Senate vote 3/11/2026

Passed Senate

Yes: 39 • No: 1

Senate vote 3/10/2026

Reconsideration of Defeated by Senate

Yes: 39 • No: 0

Senate vote 3/9/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 40 • No: 0

Senate vote 3/9/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/6/2026

Reported from Finance and Appropriations

Yes: 10 • No: 4

Senate vote 2/26/2026

Reported from Transportation and rereferred to Finance and Appropriations

Yes: 9 • No: 2 • Other: 4

House vote 2/11/2026

Read third time and passed House

Yes: 88 • No: 10

House vote 2/5/2026

Reported from Transportation

Yes: 19 • No: 1

House vote 2/3/2026

Subcommittee recommends reporting

Yes: 10 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0857)

    4/13/2026Governor
  2. Approved by Governor-Chapter 857 (effective 7/1/2026)

    4/13/2026Governor
  3. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/31/2026Governor
  4. Enrolled Bill communicated to Governor on March 31, 2026

    3/31/2026House
  5. Signed by Speaker

    3/31/2026House
  6. Bill text as passed House and Senate (HB1448ER)

    3/30/2026House
  7. Enrolled

    3/30/2026House
  8. Signed by President

    3/30/2026Senate
  9. Passed Senate (39-Y 1-N 0-A)

    3/11/2026Senate
  10. Reconsideration of Defeated by Senate (39-Y 0-N 0-A)

    3/10/2026Senate
  11. Passed by for the day

    3/10/2026Senate
  12. Defeated by Senate (23-Y 17-N 0-A)

    3/10/2026Senate
  13. Read third time

    3/10/2026Senate
  14. Passed by for the day Block Vote (Voice Vote)

    3/9/2026Senate
  15. Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

    3/9/2026Senate
  16. Rules suspended

    3/9/2026Senate
  17. Reported from Finance and Appropriations (10-Y 4-N)

    3/6/2026Senate
  18. Reported from Transportation and rereferred to Finance and Appropriations (9-Y 2-N 4-A)

    2/26/2026Senate
  19. Referred to Committee on Transportation

    2/12/2026Senate
  20. Constitutional reading dispensed (on 1st reading)

    2/12/2026Senate
  21. Read third time and passed House (88-Y 10-N 0-A)

    2/11/2026House
  22. Read second time and engrossed

    2/10/2026House
  23. Read first time

    2/9/2026House
  24. Reported from Transportation (19-Y 1-N)

    2/5/2026House
  25. Subcommittee recommends reporting (10-Y 0-N)

    2/3/2026House

Bill Text

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