1999 Session

Budget Amendments - SB800 (Conference Report)

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Major Employer in Danville (language only)

Item 547 #13c

Item 547 #13c

Central Appropriations
Central Appropriations

Page 427, after line 30, insert:
"4.  Out of the amounts in this Item for the Development Opportunity Fund shall be made available $1,800,000 in the second year to assist the City of Danville retain a major employer.  Such payment shall be contingent upon an affirmative decision by such employer not to relocate its  tobacco processing facility to North Carolina, and shall be in the form of a loan. Funds shall be used to assist such employer in making a capital investment in upgrading their Virginia facility.  If necessary, the Governor is authorized to repay this amount to the Development Opportunity Fund from the flue-cured tobacco region's allocation of the community revitalization portion of the Tobacco Indemnification and Revitalization Fund, pursuant to House Bill 2635 and Senate Bill 1165 (1999)."

(This amendment provides financial assistance to the City of Danville to retain a major employer.)