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1999 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Lambert
Airport revolving loan fund

Item 519 #2s

Item 519 #2s

First Year - FY1999 Second Year - FY2000
Transportation
Aviation, Department of FY1999 $0 FY2000 $20,000,000 GF

Language
Page 402, line 7, strike "$16,427,865" and insert "$36,427,865".
"C. Out of this appropriation, there is hereby provided $20,000,000 for initial capitalization of the Virginia Airports Revolving Fund, contingent upon passage of legislation creating the fund."


Explanation
(This amendment provides $20 million GF to capitalize the Virginia Airports Revolving Fund, contingent upon passage of legislation creating the fund. The Virginia Aviation Board will be responsible for directing how loans, grants, or other monies are allocated. It is intended that the fund will recycle loan payments to create a perpetual fund.)