2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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Marketing distressed areas

Item 128 #4s

Item 128 #4s

First Year - FY2005 Second Year - FY2006
Commerce And Trade
Virginia Economic Development Partnership FY2005 ($500,000) FY2006 $0 GF

Page 84, line 33, strike "$16,683,880" and insert "$16,183,880".
Page 86, line 39, strike "$1,000,000" and insert "$500,000".
Page 86, line 41, after "the Commonwealth" strike "is contingent upon the passage into".
Page 86, strike lines 42 through 44 and insert:   "The Partnership shall submit a plan to the Chairmen of the Senate Finance and House Appropriations Committees by January 12, 2005.  The plan shall: (1) define distressed areas of the Commonwealth and set goals, strategies and outcomes for the special marketing program; (2) describe how the monies will be leveraged with local, private, federal, and other state dollars and in-kind assistance; (3) identify local and regional funding partners; and (4) identify other state economic development programs that can be targeted to distressed areas."

(This amendment requires the Virginia Economic Development Partnership to develop a comprehensive plan for the special marketing program for distressed areas. First year funding for the program is reduced, and the Governor's contingency language for the program is deleted.)