2002 Session

Budget Amendments - HB30 (Conference Report)

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Proceeds from Sale of DOC Property (language only)

Item 3-1.01 #6c

Item 3-1.01 #6c

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, and June 30, 2004, the proceeds of the sale of surplus properties, notwithstanding the provisions of § 2.2-1125 B, Code of Virginia.  The estimated amount of the payments to be received is $15,500,000 the first year and $6,000,000 the second year.
2. Out of the amounts transferred to the general fund pursuant to subparagraph AA 1 above, the Comptroller shall transfer, on or before June 30, 2003, an amount etimated at $5,900,000 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 properties by the Department of Corrections. The remainder is transfered to the general fund.)