2003 Session

Budget Amendments - SB700 (Member Request)

View Budget Item
View Budget Item amendments

Chief Patron: Puller
School Const. Grants Act of 2003 (language only)

Item 147 #4s

Item 147 #4s

Education: Elementary and Secondary
Direct Aid To Public Education

Page 159, after line 4, insert:
"19. School Construction Grants Act of 2003
The Board of Education shall determine the priority for payment of grants as set forth in the School Construction Grant Act of 2003. It is the intent of the General Assembly to appropriate general funds in each year sufficient to pay the debt service on $200,000,000 in 20-year bonds issued annually by the Virginia Public School Authority in the Spring of 2004, 2005, 2006, 2007, and 2008."

(This amendment assumes passage of Senate Bill 885 and states the intent of the General Assembly to provide the required debt service estimated at about $16.5 million beginning in fiscal year 2005, increasing to about $82.5 million annually when $1.0 billion in bonds have been issued.)