2003 Session

Budget Amendments - HB1400 (Conference Report)

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Governor's Opportunity Fund (language only)

Item 512 #2c

Item 512 #2c

Central Appropriations
Central Appropriations

Page 482, after line 16, insert:
"6.  It is the intent of the General Assembly that the Virginia Economic Development Partnership shall work with localities awarded grants from the Governor's Development Opportunity Fund to recover such moneys when the economic development projects fail to meet minimal agreed-upon capital investment and job creation targets.  All such recoveries shall be deposited and credited to the Governor's Development Opportunity Fund."

(This amendment directs the Virginia Economic Development Partnership to recover past grants when the investment and job creation goals are not met.)