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2001 Session

Budget Amendments - SB800 (Member Request)

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Chief Patron: Trumbo
Co-Patron(s): Barry, Chichester, Couric, Hanger, Hawkins, Houck, Howell, Lambert, Marye, Miller K., Mims, Norment, Quayle, Reynolds, Saslaw, Stolle, Stosch, Wagner, Wampler, Watkins, Williams
New River Valley Center of Excellence

Item 548 #5s

Item 548 #5s

First Year - FY2001 Second Year - FY2002
Central Appropriations
Central Appropriations FY2001 $5,000,000 FY2002 $0 GF

Language
Page 482, line 10, strike "$41,850,000" and insert "$46,850,000".
Page 490, after line 39, insert:
"Q.  Out of this appropriation, $5,000,000 the first year from the general fund shall be transferred to the Pulaski County Industrial Development Authority in satisfaction of the Commonwealth's commitment, by Memorandum of Understanding executed by the Governor on October 21, 1999, to fund construction and development costs for the New River Valley Center of Excellence for worker training and retraining.".


Explanation
(This amendment provides $5.0 million of general fund support for the state's share of the construction and development costs for the New River Valley Center of Excellence to be located on the grounds of the VolvoTrucks North America, Inc., and operated in conjunction with the New River Valley Community College. Virginia committed to this funding in an October 21, 1999, MOU between the Governor and Volvo, as part of a package of state and local incentives for a major expansion of Volvo's truck manufacturing facility in Pulaski County.)