1999 Session

Budget Amendments - HB1450 (Committee Approved)

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Major League Baseball Contingency (language only)

Item 547 #2h

Item 547 #2h

Central Appropriations
Central Appropriations

Page 430, after line 19, insert:
"T.  In the event Major League Baseball grants a franchise to an ownership group to locate a Major League Baseball team in Virginia, the Governor is hereby authorized to commit critical funding from the general fund for the Commonwealth's portion of the stadium financing plan as recommended in House Document 7 (1997) by the Joint Subcommittee Studying Funding of a Baseball Stadium.  Initial funding may cover the first year of the public portion of debt service for construction of a Major League Baseball Stadium.  At the next session of the General Assembly following the award of such franchise to a team to play its home games in the Commonwealth, the Governor shall submit to that General Assembly a detailed financing plan to carry out the remainder of the Commonwealth's commitment to fund the public portion of debt service needed to finance construction of a Major League Baseball Stadium."

(This amendment is self-explanatory.)