2003 Session

Budget Amendments - SB700 (Committee Approved)

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MRC Dredging Royalty Fees (language only)

Item 397 #3s

Item 397 #3s

Natural Resources
Marine Resources Commission

Page 387, after line 27, insert:
"K. Notwithstanding § 28.2-1206 of the Code of Virginia, when the activity or project for which a permit is requested will involve the use of state-owned bottom land and for the removal of bottom material in excess of 7.5 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 and bottomland used so long as the dredged material has no commercial value.  Funds deposited into the Marine Waterways and Habitat Improvement Fund shall be immediately available for use by the Commissioner of the Virginia Marine Resources Commission."

(This amendment places a cap on the royalty fee that may be assessed for acquiring a permit to dredge large private marine cargo terminals when the dredge material has no commercial value. The amendment also permits the Commissioner of the Marine Resources Commission to expend funds from dredging royalty fees immediately upon their deposit into the fund.)