2001 Session

Budget Amendments - SB800 (Committee Approved)

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DOC HQ Lease Negotiation (language only)

Item 437 #3s

Item 437 #3s

Public Safety
Corrections, Central Activities, Department of

Page 400, following line 11, insert:
"D.  Subject to the approval of the terms and structure by the Treasury Board pursuant to § 2.1-179, Code of Virginia, and § 4-3.03(b) of Chapter 1073, Acts of Assembly 2000, the Department of Corrections is authorized to amend the capital lease on its Headquarters Building in the City of Richmond, to effect a reduction in rent obligation as a result of providing for interest incorporated in the lease to be separately stated.  The State Treasurer shall provide a report on any proposed changes in the capital lease and the savings in lease payments resulting from such action to the Chairmen of the Senate Finance and House Appropriations Committees, on or before June 30, 2001."

(This amendment authorizes the Department of Corrections to renegotiate the capital lease for its headquarters building in order to achieve a savings in lease payments, subject to the approval of the Treasury Board.)