Summary: Virginia Highway Corporation Act; alteration of certificate of authority; powers and duties of the State Corporation Commission. Requires any application for a transfer, extension, or amendment of a certificate of authority issued under the Virginia Highway Corporation Act to include information demonstrating the financial fitness of the entity applying to operate the roadway. The bill requires an applicant for a toll increase to provide a forward-looking analysis return that will be reviewed by the Department of Transportation that demonstrates that the proposed rates will be reasonable to the user in relation to the benefit obtained, not likely to materially discourage use of the roadway, and provide the operator no more than a reasonable return. The bill also prohibits the State Corporation Commission from authorizing a toll increase if these criteria are not met or if the proposed increase is for more than one year. The bill requires an operator to receive approval from the Commission prior to refinancing any existing debt.

Summary: Naming U.S. Route 29; county manager plan ofgovernment. Authorizes the board of any locality that has adoptedthe county manager plan of government (Arlington County) to name any section of U.S. Route 29 located within the boundaries of thelocality. The bill provides that the Department of Transportation will place and maintain appropriate signs that will be paid for bythe locality.

Summary: Central Virginia Transportation Authority; membership. Adds the Executive Director of the Virginia Port Authority, or his designee, as a nonvoting ex officio member of the Central Virginia Transportation Authority.

Summary: Transportation projects; resiliency. Requires the Commonwealth Transportation Board to determine whether a project has been designed to be resilient when evaluating projects for the Six-Year Improvement Program and consider resiliency when establishing the Statewide Transportation Plan. The bill also requires the Commissioner of Highways to ensure resiliency is incorporated into the design standards for new construction projects.

Summary: U.S. Route 1; "Emancipation Highway." Renames any section of Route 1 in Virginia that is designated as "Jefferson Davis Highway" to "Emancipation Highway." The bill has a delayed effective date of January 1, 2022.

Summary: Economic Development Access Program; bonded projects; emergency. Imposes a 48-month moratorium on the repayment of funds allocated to a locality for a bonded project pursuant to the Economic Development Access Program, provided that the conditions of the Commonwealth Transportation Board's economic development access policy are met. The bill has an emergency clause.