2005 Session

Budget Amendments - HB1500 (Member Request)

Chief Patron: Fralin
Regional Competitiveness Program

Item 531 #62h

Item 531 #62h

First Year - FY2005 Second Year - FY2006
Nonstate Agencies
State Grants to Nonstate Entities-Nonstate Agencies FY2005 $0 FY2006 $2,000,000 GF

Page 482, after line 18, insert:
"Out of the amounts for Financial Assistance for Cultural and Artistic Affairs, $2,000,000 the second year from the general fund is provided to the Regional Competitiveness Program (RCP)."

(This amendment provides $2,000,000 from the general fund in the second year to the Regional Competitiveness Program. The General Assembly established the Regional Competitiveness Program in 1996 through the passage of the Virginia Regional Competitiveness Act (§15.2-1306 through § 15.2-1310, Code of Virginia. The purpose of the Act is to enhance economic competitiveness for all regions of the Commonwealth. To do this, the Act established an incentive fund to encourage joint activities designed to address regional economic competitiveness needs. Funding would be used to restore the program.)