2003 Session

Budget Amendments - HB1400 (Committee Approved)

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Decent Lease (language only)

Item 4-5.08 #4h

Item 4-5.08 #4h

Special Conditions and Restrictions on Expenditures
Delegation of Authority

Page 597, delete lines 36 and 37, and insert:
"c.1. The provisions of § 4-5.08 c of Chapter 912 of the Acts of Assembly of 1996 pertaining to pilot programs for real property leases in selected institutions of higher education, including Old Dominion University, are hereby continued and expanded to include approval of income leases.
2. Virginia Tech shall be delegated authority for capital leases on a pilot basis, subject to the review and approval of the State Treasury Board and to the authorization by the General Assembly."

(This amendment is self-explanatory.)