2003 Session

Budget Amendments - HB1400 (Committee Approved)

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Dredging Royalty Fees (language only)

Item 397 #2h

Item 397 #2h

Natural Resources
Marine Resources Commission

Page 387, line 44, after "Virginia", insert:
"; however, pursuant to § 28.2-1206, Code of Virginia, the maximum royalty that shall be fixed by the Commission when granting a permit for the removal of bottom material for a project in excess of 7.5 million cubic yards involving the use of state-owned bottom lands for a privately operated port facility shall be 20 cents."

(This amendment caps the amount of royalty that would need to be paid for the development of a private port facility if the dredge materials have no commercial value.)