2003 Session

Budget Amendments - HB1400 (Conference Report)

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MRC Dredging Royalty Fees (language only)

Item 397 #3c

Item 397 #3c

Natural Resources
Marine Resources Commission

Page 387, after line 27, insert:
"K. Pursuant to § 28.2-1206, Code of Virginia, when the activity or project for which a permit is requested involves the removal of bottom material in excess of 7.0 million cubic yards to develop a private marine cargo terminal, the permit shall specify a royalty of not more than 20 cents per cubic yard of bottom material removed so long as the dredged material has no commercial value.  All such funds received by the Commission shall be deposited into the Marine Waterways and Habitat Improvement Fund and shall be immediately available for uses permitted by law.  The Secretary of Natural Resources shall approve the proportional distribution of these funds for appropriations provided pursuant to Items 380, 385, 386 and 397 of this Act. "

(This amendment provides guidance for VMRC to set royalty fees at the lower end of the scale provided by code that may be assessed for acquiring a permit to dredge more than 7.0 million cubic yards of state-owned bottom land when the dredge material has no commercial value. The amendment also requires the Secretary of Natural Resources to proportion the funds pursuant to companion amendments in Items 380, 385, 386 and 397 immediately upon their deposit into the fund.)