Del. Lee Ware

Study; Department of Rail and Public Transportation; Commonwealth Corridor passenger rail service; report. Requeststhe Department of Rail and Public Transportation to study the feasibilityof an east-west Commonwealth Corridor passenger rail service connectingHampton Roads, Richmond, and the New River Valley.

Study; JLARC; reduction or elimination of tollson Midtown and Downtown Tunnels in Hampton Roads; report. Directsthe Joint Legislative Audit and Review Commission to study the feasibilityof reducing or eliminating tolls on the Midtown and Downtown Tunnelsin Hampton Roads.

U.S. Constitution; application for aconvention of the states. Makes application to Congress to calla convention of the states to propose amendments to the United States Constitution that impose fiscal restraints on the federal governmentand limit the power and jurisdiction of the federal government.

Study; JLARC; Compensation Board funding forthe offices of constitutional officers; report. Directs the JointLegislative Audit and Review Commission to study Compensation Boardfunding for the offices of constitutional officers and to reviewthe trends and trajectory of general fund support in the state budgetfor the offices of constitutional officers, the metrics by whichsupport is determined, the equity of such state support consideringthe needs of the various localities, and the degree by which localitiesare supplementing the Commonwealth's funding.

Virginia National Guard; state active duty for emergency response; pay and allowances for members. Establishes rates of pay and allowances for members of the Virginia National Guard and Virginia Defense Force.

Mountain ridges; prohibition on construction;local ordinance. Prohibits the construction of any building morethan 50 feet tall at any elevation within 100 feet of the crest ofa vulnerable mountain ridge, as defined in the bill. The bill providesan exception for construction that complies with a county or cityordinance adopted to mitigate the effect of such structures on viewsof the ridge. The bill also authorizes any city or county to optout of the prohibition on construction by referendum if the petitionfor such referendum is made prior to January 1, 2022. The bill directs the Department of Conservation and Recreation to produce maps showing vulnerable mountain ridges in Virginia and authorizes the Departmentto develop a model ridge conservation ordinance.

Celebrating the life of Debra Sue Maurer.

Commending Mission BBQ.

Electric utility regulation; initial triennial review. Establishes requirements for the first scheduled triennial review proceeding for Virginia Electric and Power Company that is scheduled to be conducted in 2021. The measure directs that such initial triennial review shall consist of a generation and distribution rate case conducted solely pursuant to Chapter 10 (§ 56-232 et seq.) of Title 56 of the Code of Virginia, rules of the State Corporation Commission, and this measure. As part of the initial triennial review, the Commission is directed to review the earnings during the utility's test period and to order credits to customers in amounts equal to any earnings during the combined test periods that are above the utility's authorized rate of return in effect on July 1, 2020, as determined in the initial triennial review. The measure authorizes the Commission to order rate adjustments and to use any methodology to determine the fair rate of return on common equity that it finds consistent with the public interest, provided that such return shall be set at a level that is sufficient to assure confidence in the utility's financial integrity, adequate to maintain and support the utility's credit and its ability to attract capital, and comparable to returns that investors in securities would expect to earn on investments of similar risk. The measure provides that any capital investments made during the combined test periods reviewed during an initial triennial review in utility owned solar or wind generation facilities or electric distribution grid transformation projects will not be applied as customer credit reinvestment offsets during such utility's initial triennial review, but any portion of such capital investments that remain undepreciated as of the utility's subsequent triennial reviews may be applied as customer credit reinvestment offsets in subsequent proceedings. The measure directs the utility to make its initial triennial review filing by March 31, 2021. Subsequent triennial reviews shall be conducted pursuant to the Virginia Electric Utility Regulation Act. This bill was incorporated into HB 1132.

Fiduciary management of condominium associationfunds; permissible investments. Authorizes the fiduciary managingagent of a condominium association to invest managed funds in UnitedStates securities or maintain a limited amount of managed funds ina money market account that invests in United States securities orother financial instruments guaranteed by securities of the UnitedStates. Under current law, a fiduciary managing agent may only keep association funds in a trust account in a federally insured financial institution.