1997 Session

Budget Amendments - SB700 (Conference Report)

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SCHEV Trigon Admin Costs

Item 158 #3c

Item 158 #3c

First Year - FY1997 Second Year - FY1998
Education: Higher Education
State Council of Higher Education for Virginia FY1997 $0 FY1998 $15,000 GF
FY1997 $0 FY1998 $25,000 NGF

Page 130, line 34, strike "$6,101,758" and insert "$6,141,758".
Page 132, after line 19, insert:
"H.  1. This appropriation includes $15,000 in the second year from the general fund, and $25,000 in the second year from nongeneral funds, for expenses incurred by the staff of the Council of Higher Education in its role to provide administrative support to the board of the Commonwealth Health Research Fund.
2.  The Commonwealth Health Research Board, the State Council of Higher Education, the Board of the Virginia Retirement System, the State Treasurer, and the Department of Accounts shall enter into a memorandum of understanding establishing procedures governing the management, administration, and disbursement of moneys in the Commonwealth Health Research Fund, and other financial activities related to the implementation of this program, by September 1, 1997."

(This amendment provides for administrative costs of the State Council of Higher Education as it performs ministerial services for the Commonwealth Health Research Fund, which was created by House Bill 2581 and Senate Bill 1047, and established with the proceeds of the stock the Commonwealth will receive as the result of Trigon Blue Cross-Blue Shield becoming a public stock corporation. The nongeneral funds will be generated by the interest yield on the invested proceeds.)