2004 Special Session I

Budget Amendments - SB5001 (Committee Approved)

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Reauthorizes a treasury loan for Virginia Partners in Procurement (language only)

Item 78 #1s

Item 78 #1s

General Services, Department of

Page 57, after line 19, insert:
"D.  The Department of Accounts shall provide a treasury loan of up to $5,000,000 to the Department of General Services to support expansion and the department's overview of the statewide Virginia Partners in Procurement (VaPP) spend management program for the purpose of creating savings for the Commonwealth's agencies and institutions by collaborating in areas where there is an overlap in purchasing.  Such loan shall bear interest at a rate equal to the general fund composite investment rate and shall be repaid no later than June 30, 2008.  Funding for repayment of this loan will be from rebates or surcharges collected and/or fees added to the statewide spend management contracts.  The General Assembly strongly encourages all state agencies and institutions of higher education to participate in the statewide spend management program authorized in this item."

(This amendment reauthorizes the Department of Accounts to provide a treasury loan up to $5,000,000 to the Department of General Services to support implementation of the statewide VaPP spend management program. Similar language is contained in House Bill 29. The Auditor of Public Accounts has recommended that similar language be included in the 2004-06 budget.)