2001 Session

Budget Amendments - HB1600 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Clement
VCBA-HEETF for Museums (language only)

Item 265 #1h

Item 265 #1h

Education: Higher Education
Virginia College Building Authority

Page 256, after line 39,  insert:
“D.  The provisions of §23-30.27.1 et. seq., Code of Virginia, notwithstanding, beginning the second year the Virginia College Building Authority is authorized to finance equipment for replacement and improvements, other than general maintenance, of educational exhibits at museums which are wholly owned and operated by the Commonwealth.  These financings shall be for the beneficial purposes contemplated in this item for educational institutions, as they are defined in Title 23, Code of Virginia, utilizing the Higher Education Equipment Trust Fund program, or such other program as the Authority may devise to effect this purpose.  It is the intent of the General Assembly that amortization payments on such financings shall be made from the general fund.  Initial museum allocations shall be made in principal amounts as follows:
FY 2001 FY 2002



Jamestown-Yorktown Foundation      $0 $1,500,000
Virginia Museum of Fine Arts      $0 $1,500,000
The Science Museum of Virginia      $0 $1,500,000
Virginia Museum of Natural History      $0 $750,000
Frontier Culture Museum of Virginia      $0 $250,000
Gunston Hall      $0 $250,000".

(This amendment authorizes the Virginia College Building Authority to use the Higher Education Equipment Trust Fund program, or a similar mechanism, to establish a regular financing program for replacement of exhibits in state operating museums. The first financings would occur in fiscal year 2002, with debt service payments beginning in fiscal year 2003.)