2005 Session

Budget Amendments - SB700 (Committee Approved)

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Unanticipated Business Conditions (language only)

Item 95 #1s

Item 95 #1s

Commerce And Trade
Commerce and Trade, Secretary of

Page 83, strike lines 19 through 29 and insert:
"D.1.  The Governor is hereby authorized to allocate an amount not to exceed $2,500,000 in any one fiscal year from the unappropriated balance, derived by subtracting the general fund appropriations from the projected general fund revenues in this act, to address unanticipated business or industrial development opportunities of regional significance that will benefit the state's economy and for which other funding is not then available.  Any such allocation shall be made only upon the approval of the Regional Project Investment Board.
2.  The Regional Project Investment Board shall advise the Governor on any unanticipated business or industrial development of regional significance requiring state financial assistance as described in this Item.  The Board shall be chaired by the Secretary of Commerce and Trade, and shall include the Secretaries of Agriculture and Forestry, Finance, and Transportation or their designees.  Before making any recommendation to the Governor, the Board shall consult with the Chairmen of the Senate Finance and House Appropriations Committees or their designees.  As part of the consultation, the Board shall share with the two Chairmen or their designees all information available to the Board on the unanticipated business or industrial development project."

(This amendment authorizes the Governor to use up to $2.5 million of the unappropriated general fund balance to address an unanticipated business or industrial development opportunity. The language establishes a Regional Project Investment Board to advise the Governor on such opportunities.)