Sen. Steve Newman

Combines the current property carrier and bulk property carrier authorities and eliminates the current license requirement for property brokers. The bill eliminates the requirement for the Department of Motor Vehicles to issue specially designated license plates for property-carrying vehicles operated for hire. The bill reduces from $750,000 to $300,000 insurance limits for carriers operating vehicles with a gross vehicle weight rating in excess of 7,500 pounds but not in excess of 10,000 pounds. For passenger cars, motorcycles, autocycles, and vehicles with a gross vehicle weight rating of 10,000 pounds or less, the bill requires liability coverage for property carriers of a minimum of (i) $25,000 per person, $50,000 per incident for death and bodily injury, and $20,000 for property damage when the motor carrier is available to transport property and (ii) $100,000 per person, $300,000 per incident for death and bodily injury, and $50,000 for property damage from the time the motor carrier accepts the request to transport property and the vehicle is en route to pick up the property until the time the propety has been removed from the vehicle and delivered to its final destination. The bill has a delayed effective date of January 1, 2018. The bill incorporates

Authorizes a treasurer to act on behalf of his locality to become a participating political subdivision in qualified investment pools without an ordinance adopted by the locality. The bill defines a qualified investment pool as a jointly administered trust fund that has a professional investment manager. Investments in qualified investment pools pursuant to the bill are required to comply with the requirements of the Investment of Public Funds Act (§ 2.2-4500 et seq.) applicable to municipal corporations and other political subdivisions. The bill states that none of its provisions shall be construed to diminish existing legal authority of treasurers related to the investment of public funds. This bill is identical to

Authorizes an investor-owned electric utility to petition the State Corporation Commission for approval of a rate adjustment clause for recovery of the costs of one or more pumped hydroelectricity generation and storage facilities that utilize associated on-site or off-site renewable energy resources as all or a portion of their power source and such facilities and associated resources are located in the coalfield region of the Commonwealth. The measure provides that the requirement that a utility demonstrate that it has considered and weighed alternative options, including third-party market alternatives, in its selection process does not apply to these generation and storage facilities. The construction of these generation and storage facilities is declared to be in the public interest, and in determining whether to approve such facility, the Commission is directed to liberally construe the provisions of Title 56.

Requires the Virginia Aviation Board to develop and review every five years a commercial air service plan for commercial air service airports in the Commonwealth and, prior to allocation of funds from the Commonwealth Airport Fund by the Board, ensure that requested funds are consistent with the plan. The bill requires the Board to report to the Governor and the General Assembly annually on the use of Commercial Airport Fund revenues for the previous fiscal year. The bill prohibits the use of Commercial Airport Fund revenues for (i) operating costs, unless otherwise approved by the Board, or (ii) purposes related to supporting the operation of an airline, either directly or indirectly, through grants, credit enhancements, or other related means.