1997 Session

Budget Amendments - SB700 (Conference Report)

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Infrastructure Study (language only)

Item 92 #7c

Item 92 #7c

Commerce And Trade
Housing and Community Development, Department of

Page 67, after line 31, insert:
"L.  The Department shall study financing options for the Commonwealth to assist localities in the development of industrial parks and related infrastructure improvements.  Among the options for the Department to consider are federally sponsored economic development programs, as well as options that provide tax benefits for financial institutions that agree to provide low-interest financing for the purchase and improvement of industrial sites. The Virginia Economic Development Partnership and the Department of Business Assistance shall cooperate with the Department in preparing the study.  The Department shall also request the assistance of the House Appropriations and Senate Finance Committees. The Department shall report on its findings and recommendations to the Chairmen of the House Appropriations and Senate Finance Committees no later than October 31, 1997."

(This amendment is self-explanatory.)