Authority: §§ 58.1-200, 58.1-202 and 58.1-213, Code of Virginia.

1. Pursuant to Chapters 643 and 653 of the 1996 Acts of Assembly, the Tax Commissioner is hereby authorized, through the Department of General Services in accordance with the Virginia Public Procurement Act, to enter into public/private partnership contracts to finance agency technology needs. An external oversight group to include but not be limited to the State Comptroller, the Director of the Department of Planning and Budget, the State Internal Auditor, one representative appointed by the President pro tempore, and one representative appointed by the Speaker shall review and approve the terms of contracts relating to the measurement of the revenue attributable to the technology.

2. The Tax Commissioner shall determine the total amount of increased revenue attributable to such technology. Annually, the Tax Commissioner shall report to the Governor and the General Assembly on all such agreements and revenue impact. The State Comptroller is hereby authorized to deposit such increased revenues attributable to such technology into the Technology Partnership Fund, from which the private partners shall be paid. The Tax Commissioner may draw from such Fund as often as necessary to make contractually required payments to private partners. Any balance in the Fund remaining after such payment shall be deposited to the appropriate general, nongeneral, or local fund.

3. The Department, in conjunction with the Department of Personnel and Training and the Council on Information Management, will prepare a technology infrastructure plan that addresses both short and long-term staffing and compensation needs for employees in the Department of Taxation's Information Management Section. The final plan shall be submitted to the Secretary of Finance no later than October 1, 1998.