Item 530 | First Year - FY1997 | Second Year - FY1998 |
|---|---|---|
| Economic Contingency (75800) | $18,687,000 | $17,382,102 |
| Fund Sources: | ||
| General | FY1997 $18,687,000 | FY1998 $16,062,000 |
| Special | FY1997 $0 | FY1998 $1,320,102 |
Authority: Discretionary Inclusion.
A. The Governor is hereby authorized to allocate sums from this appropriation, in addition to an amount not to exceed $1,000,000 from the unappropriated balance derived by subtracting the general fund appropriations from the projected general fund revenues in this act, to provide for supplemental funds pursuant to Paragraph B hereof. Transfers from this Item shall be made only when (1) sufficient funds are not available within the agency's appropriation, and (2) additional funds must be provided prior to the end of the next General Assembly session.
B. The Governor is hereby authorized to allocate such sums from this appropriation as he may determine to be needed for the following purposes:
1. To address the six conditions listed in § 4-1.03 a.3. of this act.
2. To provide for unbudgeted and unavoidable increases in costs to state agencies for essential commodities and services which cannot be absorbed within agency appropriations.
C. The Department of Planning and Budget shall submit a quarterly report of any disbursements made from, commitments made against and requests made for such sums authorized for allocation pursuant to Paragraph B to the Chairmen of the House Appropriations and Senate Finance Committees. This report shall identify each of the conditions specified in Paragraph B for which the transfer is made.
D. Any unexpended balance remaining in this Item on June 30, 1997, shall be carried forward on the books of the Comptroller and shall be available for expenditure in the second year of the current biennium. Any unexpended balance remaining in this item on June 30, 1998, shall be carried forward on the books of the Comptroller and shall be available for expenditures in the next biennium.
E.1. This appropriation includes $15,000,000 the first year and $15,225,000 the second year to be used at the discretion of the Governor, subject to prior consultation with the Chairmen of the House Appropriations and Senate Finance Committees, to attract economic development prospects to locate or expand in Virginia.
2. The Governor may allocate these funds as grants or loans to political subdivisions. Loans shall be approved by the Governor and made in accordance with procedures established by the Department of Economic Development Virginia Economic Development Partnership and approved by the State Comptroller. Loans shall be interest-free unless otherwise determined by the Governor and shall be repaid to the general fund of the State Treasury. The Governor may establish the interest rate to be charged; otherwise, any interest charged shall be at market rates as determined by the State Treasurer and shall be indicative of the duration of the loan. The Department of Economic Development Virginia Economic Development Partnership shall be responsible for monitoring repayment of such loans and reporting the receivables to the State Comptroller as required.
3. Funds may be used for public and private utility extension or capacity development on and off site; road, rail, or other transportation access costs beyond the funding capability of existing programs; site acquisition; grading, drainage, paving, and other activity required to prepare a site for construction; construction or build-out of publicly-owned buildings; grants or loans to an Industrial Development Authority, Housing and Redevelopment Authority, or other political subdivision pursuant to their duties or powers; training; or anything else permitted by law.
4. The Secretary of Commerce and Trade shall develop guidelines by which the Governor shall allocate up to $5 million of the funds in E.1., above, toward economic development projects which meet the goals and objectives of the Regional Competitiveness Act. The Secretary shall make recommendations to the Governor and the General Assembly by December 1, 1996, on the criteria and methods under which such awards would be made.
5. Any unexpended balance related to economic development in this program on June 30, 1997 and June 30, 1998, shall not revert to the general fund but shall be carried forward and reappropriated.
F. The Governor is authorized to transfer $1,500,000 the first year and $4,500,000 $150,000 the second year to the Department of Mines, Minerals, and Energy for solar photovoltaic manufacturing incentive grants in accordance with § 45.1-392, Code of Virginia.
G. If actual general fund revenue collections for the fiscal year ending June 30, 1996, exceed official estimates contained in this act by at least $9,864,514, the Governor is hereby directed to transfer $500,000 to the City of Buena Vista to assist the city in retaining a major employer.
H. The Governor is hereby authorized to increase the general fund appropriation in this item by an amount not to exceed $2,000,000 from the unappropriated balance derived by subtracting the general fund appropriations from the projected general fund revenues in this act, to assist Virginia's Region 2000 to attract a major employer investing over $125 million to the region.
I. The Governor is hereby authorized to expend a sum not to exceed $6,000,000 from the undesignated, unreserved general fund balance from the Comptroller's preliminary report as of June 30, 1996, as the state's share to construct the Triple Cross Connector Project of the Riverfront Development Project in the City of Richmond. Such sum may be paid to the City of Richmond upon certification by the Secretary of Commerce and Trade to the Governor and Chairmen of the Senate Finance and House Appropriations Committees that: 1) the City of Richmond has appropriated or issued debt, at an estimated cost of $40 million, for the Phase I Canal Improvements and the CSO Interceptor Project; 2) private sector contributions of at least $4,000,000 have been received; and 3) public sector financing from sources other than the general fund has been secured sufficient to complete the redevelopment project.
I VETO THIS ITEM /s/ GEORGE ALLEN (4/10/96) (Vetoed item is enclosed in brackets.)
[ J. The Governor shall make the following transfers to the indicated localities to assist in retaining major employers:
1. To the City of Roanoke, $450,000 the first year and $500,000 the second year.
2. To the County of Roanoke, $50,000 the first year. ]
K. Out of the amounts in this item shall be provided $1,000,000 the first year from the general fund to Mountain Empire Community College to provide educational assistance to laid-off coal miners. Any coal miner laid-off on or after August 1, 1995, who is 1) no longer eligible for federal unemployment benefits and 2) enrolled in a training or educational program from an accredited institution or technical school, shall be eligible for educational and training benefits.
L. Included in this item is up to $187,000 each year, which may be allocated by the Director of the Department of Planning and Budget to the affected agencies, the Virginia Employment Commission and the Department of Games Game and Inland Fisheries, to offset the impact of Chapter 72 of the 1996 Acts of Assembly, relating to election registration.
M. Consistent with the transfer of responsibility of the training facilities at Fort Pickett from the federal government to Virginia, the Director of the Department of Planning and Budget may transfer up to 75 positions, as needed, from this item to the Department of Military Affairs for the operation and maintenance of the site.