1999 Session

Budget Amendments - SB800 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Barry
Virginia Baseball Stadium Authority

Item 3-2.01 #1s

Item 3-2.01 #1s

First Year - FY1999 Second Year - FY2000
Working Capital Funds and Lines of Credit
Advances to Working Capital Funds FY1999 $0 FY2000 $900,000 GF

Page 507, line 36, before "The" insert "A.".
Page 507, after line 41, insert:  "B.  The State Comptroller shall record on its books the amount of $1,900,000 to be considered as a working capital advance for the Virginia Baseball Stadium Authority.  The funds to repay the advance shall be generated from revenues collected by the Authority.  The State Comptroller shall make available to the Virginia Baseball Stadium Authority the amount of $650,000 on July 1, 1999, and $250,000 on December 1, 1999, from the general fund as a temporary cash flow advance, to be repaid consistent with a repayment schedule agreed upon by the State Comptroller.".

(This amendment provides $900,000 of general fund support in FY 2000 for the Virginia Baseball Stadium Authority. Budget language, however, authorizes an amount of $1.9 million to be made available. The $900,000 is to be considered a temporary cash flow advance to the Authority. The Authority is to repay the amount in accordance with a schedule agreed upon by the State Comptroller.)