2002 Session

Budget Amendments - HB30 (Committee Approved)

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Proceeds from Sale of DOC Property (language only)

Item 3-1.01 #9h

Item 3-1.01 #9h

Interfund Transfers

Page 419, after line 24, insert:
"AA.1. The Department of Corrections shall pay into the general fund of the state treasury, on or before June 30, 2003, the proceeds of the sale of surplus property, notwithstanding the provisions of § 2.2-1125 B, Code of Virginia.  The estimated amount of the payment to be received is $6,500,000.
2. Out of the amount transferred to the general fund pursuant to subparagraph AA 1 above, the Comptroller shall transfer on or before June 30, 2003, $3,250,000 to the Conservation Resources Fund (§ 10.1-202, Code of Virginia)."

(This amendment provides for the allocation to the Conservation Resources Fund of a portion of the proceeds from the sale of surplus property by the Department of Corrections. The remainder is transfered to the general fund.)