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2000 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Hall
UVAMC Interest on Cash Balances

Item 215 #1h

Item 215 #1h

First Year - FY2001 Second Year - FY2002
Education: Higher Education
University of Virginia Medical Center FY2001 $5,000,000 FY2002 $5,000,000 GF

Language
Page 174, line 20, strike "$354,422,815" and insert "$359,422,815".
Page 174, line 20, strike "$367,300,618" and insert "$372,300,618".
Page 175, after line 15, insert:
"E. Notwithstanding the provisions of §2.1-180, Code of Virginia, the University of Virginia Medical Center is authorized to retain the interest earned on its cash balances.  Out of this appropriation, $5,000,000 from the general fund is included in each year of the biennium for this purpose."


Explanation
(This amendment authorizes the University of Virginia Medical Center to retain the interest earned on its cash balances and appropriates an estimate of the interest earnings. This is a recommendation of the Joint Commission on Health Care.)