WQIF Total Appropriation and Reserve (language only)

Item 378 #1c

Language
Page 297, line 8, before "The", insert "A."
Page 297, after line 25, insert:
"B.1.  It is the intent of the General Assembly that an additional
$30,000,000 from the general fund be deposited into the Virginia Water Quality Improvement Fund, as specified in Items 382 and 388 of this Act, and shall be used solely for the purposes established by the General Assembly within Items 382 and 388 of this Act and the purposes delineated within the Virginia Water Quality Improvement Act of 1997 (§ 10.1-2117 et seq., Code of Virginia).  In no instance, however, shall the proceeds of the Virginia Water Quality Improvement Fund be used for agency operating expenses or to either replace or reduce any general fund or nongeneral fund allocation or appropriation to any state agency.  
B.2.  It is the intent of the General Assembly that a reserve be created within the Virginia Water Quality Improvement Fund to support the purposes delineated within the Virginia Water Quality Improvement Act of 1997 (WQIA 1997) when year-end general fund surpluses are unavailable. Consequently, 15 percent of any amounts appropriated to the Virginia Water Quality Improvement Fund due to annual general fund revenue collections in excess of the official estimates contained in the general appropriation act shall be withheld from appropriation.  When annual general fund revenue collections do not exceed the official revenue estimates contained in the general appropriation act, or when there are no additional annual appropriations provided by the General Assembly, the reserve fund shall be used for WQIA 1997 purposes as directed by the General Assembly within the general appropriation act."

Explanation
(This amendment provides information about additional general fund appropriations to be made to the Virginia Water Quality Improvement Fund by the General Assembly in the 2004-06 biennium and establishes a reserve requirement for this fund. The total additional general fund appropriation to the fund in the biennial budget will be $30.0 million, however, this sum is to be divided between the point source pollution activities of the Department of Environmental Quality and the nonpoint source pollution activities led by the Department of Conservation and Recreation. Appropriations made to these agencies shall state the purposes for which this sum may be used. The amendment also requires that 15 percent of any year-end general fund balance deposited to the fund be reserved to ensure continued funding for the Virginia Water Quality Improvement Fund's activities in the event there is no general fund surplus for appropriation to the fund in subsequent fiscal years and the General Assembly does not choose to appropriate general fund dollars to the fund.)