79549333.2-1026Virginia Decodedhttps://vacode.org2016Highways And Other Surface Transportation SystemsModes Of Transportation: Highways, Bridges, Ferries, Rail, And Public TransportationEminent DomainEminent Domain And DamagesAwards in greater or lesser amounts than deposit; interestCode 1950, § 33-70.10; 1958, c. 581; 1970, cc. 322, 614, § 33.1-128; 1981, c. 476; 1994, c. 584; 1997, c. 865; 2003, cc. 19, 47, 318, 940; 2010, cc. 20, 53; 2014, c. 805.http://law.lis.virginia.gov/vacode/33.2-1026/33.2-1023Proceedings for distribution of funds; effect of acceptance of payments; evidence as to amount of deposit or certificate/33.2-1023//33.2-1026/33.2/II/10/1/33.2-1026If the amount of an award in a condemnation proceeding is greater than that deposited with the court or represented by a certificate of deposit, the excess amount, together with interest accrued on such excess amount, shall be paid into court for the person entitled thereto.sectionAA1Interest shall accrue on the excess amount at the rate of interest established pursuant to § 6621(a)(2) of the Internal Revenue Code of 1954, as amended, compiled by the Department for the month in which the award is rendered, computed from the date of such deposit to the date of payment into court, and shall be paid into court for the person or persons entitled thereto. However, any (i) interest accruing after June 30, 1970, and prior to July 1, 1981, shall be paid at the rate of six percent; (ii) interest accruing after June 30, 1981, and prior to July 1, 1994, shall be paid at the rate of eight percent; and (iii) interest accruing after June 30, 1994, and prior to July 1, 2003, shall be paid at the general account composite rate, compiled by the Department of the Treasury for the month in which the award is rendered.sectionBB1If the amount of an award in a condemnation proceeding is less than that deposited with the court or represented by a certificate of deposit, and the person or persons entitled thereto have received a distribution of the funds pursuant to § 33.2-1023, the Commissioner of Highways shall recover (i) the amount of such excess and (ii) interest on such excess at the rate of interest established pursuant to § 6621(a)(2) of the Internal Revenue Code of 1954, as amended. If any person has been paid a greater sum than that to which he is entitled as determined by the award, judgment shall be entered for the Commissioner of Highways against such person for the amount of such excess and interest. However, the Commissioner of Highways shall not be entitled to recover the amount of such excess and interest in the event the Commissioner of Highways acquired, by virtue of the certificate, an entire parcel of land containing a dwelling, multiple-family dwelling, or building used for commercial purposes at the time of initiation of negotiations for the acquisition of such property.sectionCC1