2003 Session

Budget Amendments - SB700 (Committee Approved)

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Increase nongeneral fund capital outlay threshold (language only)

Item 4-4.01 #2s

Item 4-4.01 #2s

Capital Projects

Page 589, strike lines 28 through 30, and insert:
"6.a)  Any new construction project developed by the University of Virginia, Virginia Polytechnic Institute and State University, or the College of William and Mary, with an estimated cost of $750,000 or less, shall be exempt from the capital outlay review and approval process.
b) All nongeneral fund repair or renovation project at any institution of higher education costing up to $1,000,000 shall be exempt from the capital outlay review and approval process provided no additional space is created by the project and the project does not involve the issuance of debt."

(This amendment is part of a package to delegate additional authority to institutions of higher education for handling administrative functions on campus. The amendment incorporates the Governor's recommendation to increase the threshold to $750,000 for the authority already delegated to UVA, VT, and CWM. It further establishes a new threshold for renovation and repair projects of $1 million at any institution of higher education. In so doing, this amendment allows institutions to respond quickly to minor capital renovation needs without seeking an appropriation from the General Assembly.)