2003 Session

Budget Amendments - HB1400 (Member Request)

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Chief Patron: Joannou
Cap Royalty Fees (language only)

Item 397 #2h

Item 397 #2h

Natural Resources
Marine Resources Commission

Page 387, line 44, after "Virginia" insert:
"; however, notwithstanding § 28.2-1205 (E) and § 28.2-1206, Code of Virginia, the maximum royalty that may be fixed by the Commission when granting a permit for the removal of bottom material that has no economically viable commercial uses or other related activities involving the use of state-owned bottom lands for a privately operated port facility shall be $150,000."

(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.)