Commonwealth of Virginia State Parks Bond Act of 2025; created.

Commonwealth of Virginia State Parks Bond Act of 2025. Authorizes the issuance of Commonwealth of Virginia state parks and recreational facilities bonds pursuant to Article X, Section 9 (b) of the Constitution of Virginia in an amount not exceeding $80,960,000, subject to approval by a majority of the qualified voters of the Commonwealth voting thereon at the November 4, 2025, general election. The purpose of the bonds is to provide funds for deferred maintenance projects at state parks and recreational facilities. The full faith and credit of the Commonwealth is pledged for the payment of the principal and interest on the bonds and any bond anticipation notes or refunding bonds. The bill authorizes the Treasury Board, by and with the consent of the Governor, to fix the details of such bonds, to borrow money in anticipation of the issuance of the bonds, and to issue refunding bonds. The bill shall not become effective, and no bonds shall be issued, unless and until voter approval is obtained.