1997 Session

Budget Amendments - SB700 (Conference Report)

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GF Fund Shift Transfer (language only)

Item 3-1.01 #2c

Item 3-1.01 #2c

Interfund Transfers

Page 417, strike lines 6 through 8 and insert:
"T.  Prior to June 30, 1998, the State Comptroller shall transfer to the general fund $5,000,000 from unobligated balances in the Industrial, Rail and Airport Access Fund administered by the Department of Transportation."

(This amendment changes for fiscal year 1998 the nongeneral fund source for a transfer to the general fund. The current source is special funds of the Department of Motor Vehicles. The new fund source would be unobligated balances of the Industrial, Rail and Airport Access Fund of the Department of Transportation. The amendment also eliminates questions about the long-term source of funds for debt service for the Route 58 Corridor Development Fund and the Northern Virginia Transportation Program by deleting extraneous language which links the nongeneral fund transfer with appropriations for the Route 58 and Northern Virginia programs, both in the second year. This language is unnecessary because the funding sources for these projects is the general fund.)