Item 3-2.03 |
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§ 3-2.03 LINES OF CREDIT
a. The State Comptroller shall provide lines of credit to the following agencies, not to exceed the amounts shown:
| State Lottery Department | $25,000,000 |
| Department of Alcoholic Beverage Control | $30,000,000 |
| Department of Emergency Management | $150,000 |
| Department of the Treasury, for the Unclaimed Property Trust Fund | $5,000,000 |
| Department of Corrections, for Virginia Correctional Enterprises | $1,000,000 |
| Department of the Treasury for the State Insurance Reserve Trust Fund | |
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| $15,000,000 |
| Department of the Treasury, for the Teacher Liability Insurance Program | $1,000,000 |
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| Administration of Health Insurance | $25,000,000 |
| Department of Human Resource Management, for the Workers' Compensation Self Insurance Trust Fund | $10,000,000 |
| Virginia Information Technologies Agency | $30,000,000 |
b. Based on the approval of the Secretary of Finance, the State Comptroller shall provide a line of credit not to exceed $30,000,000 to the Virginia Information Technologies Agency. The purpose of the line of credit is to finance information technology enterprise projects as recommended by the Technology Investment Board. These enterprise projects will be funded through the Virginia Technology Fund established in Title 2.2, Chapter 13, Code of Virginia.
c. The State Comptroller shall execute an agreement with each agency documenting the procedures for the line of credit, including, but not limited to, applicable interest and the method for the drawdown of funds. The provisions of § 4-3.02 b of this act shall not apply to these lines of credit.