Language Page 396, line 13, strike "$11,900,662" and insert "$12,400,662".Page 397, after line 15, insert:"I. Included in this item is $500,000 in the second year for use by the Innovative Technology Authority to establish an Advanced Communications Assistance Fund as otherwise provided by law. The amounts provided herein shall be used only for a revolving loan program or for a direct grants program wherein the sums must be matched on a dollar-for-dollar basis by the recipient localities. Prior to the implementation of this program, the Innovative Technology Authority shall present its plans and policies for implementation of the program to the State Corporation Commission. If the State Corporation Commission objects to any aspect of the planned program, the Innovative Technology Authority shall not implement the Advanced Communications Assistance Fund program until such objections are resolved."
Explanation(This amendment provides funds to implement an Advanced Communications Assistance Fund in the Innovative Technology Authority, pursuant to legislation introduced in the 1999 General Assembly Session.)