2006 Code of Virginia § 56-542 - Powers of the Commission

56-542. Powers of the Commission.

The Commission shall have the power to regulate the operator under this titleas a public service corporation. The Commission shall also have the power,and be charged with the duties of reviewing and approving or denying theapplication, of supervising and controlling the operator in the performanceof its duties under this chapter and title, and of correcting any abuse inthe performance of the operator's public duties. Pursuant to 56-36, theCommission shall require from the operator a verified report describing thenature of its contractual and other relationships with individuals orentities contracting with the operator for the provision of significantfinancial, construction, or maintenance services. The Commission shall reviewthe report and such other materials as it shall deem necessary for thepurpose of determining improper or excessive costs, and shall exclude fromthe operator's costs any amounts which it finds are improper or excessive.The Commission also shall have the duty and authority to approve or revisethe toll rates charged by the operator. Initial rates shall be approved ifthey appear reasonable to the user in relation to the benefit obtained, notlikely to materially discourage use of the roadway and provide the operatorno more than a reasonable rate of return as determined by the Commission.Thereafter, the Commission, upon application, complaint or its owninitiative, and after investigation, may order substituted for any toll beingcharged by the operator, a toll which is set at a level which is reasonableto the user in relation to the benefit obtained and which will not materiallydiscourage use of the roadway by the public and which will provide theoperator no more than a reasonable return as determined by the Commission.The Commission may charge a reasonable annual fee to cover the costs ofsupervision and controlling the operator in the performance of its dutiesunder this chapter and pursuant to this section.

(1988, c. 649; 1991, c. 272.)