1998 Session

Budget Amendments - HB30 (Committee Approved)

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Deal Closing Fund

Item 547 #10h

Item 547 #10h

First Year - FY1999 Second Year - FY2000
Central Appropriations
Central Appropriations FY1999 ($6,000,000) FY2000 $0 GF

Page 321, line 48, strike "$23,214,200" and insert "$17,214,200".
Page 322, line 38, strike "15,225,000" and insert "9,225,000".
Page 322, after line 43 insert:
"Any funds appropriated in paragraph E.1., along with prior appropriations and unexpended cash balances, shall be transferred to the Governor's Development Opportunity Fund, as established in §2.1-51.6:5, Code of Virginia on July 1 of each fiscal year."
Page 323, after line 12, insert:
"4.  The maximum award granted to any one project shall not exceed $1,000,000."

(This amendment reduces the Deal Closing Fund appropriation by $6,000,000 the first year. The amendment also clarifies that the appropriations and cash balances are to be transferred into an interest earning-account.)