2005 Session

Budget Amendments - SB700 (Member Request)

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Chief Patron: Stolle
Co-Patron(s): Colgan, Hanger, Hawkins, Houck, Howell, Lambert, Mims, Norment, Quayle, Saslaw, Ticer, Whipple
CIT Baseline Funding

Item 462 #2s

Item 462 #2s

First Year - FY2005 Second Year - FY2006
Innovative Technology Authority FY2005 $0 FY2006 $950,000 GF

Page 417, line 21, strike "$6,087,085" and insert "$7,037,085".
Page 418, line 47, after "2." strike the remainder of the line.
Page 418, strike lines 41 through 46 and insert:
"The Innovative Technology Authority shall provide a Performance Report to the Governor and the Chairmen of the Senate Finance and House Appropriations Committees by November 1, each year, on the Center for Innovative Technology's return on investment to the Commonwealth, including nongeneral fund revenues acquired to support the public purpose as declared in § 2.2-2219 of the Code of Virginia, and the statewide economic impacts of programs and services."

(This amendment provides $950,000 GF to restore state support for CIT. This amendment coupled with the amendments proposed by the Governor increase the second-year general fund appropriation for CIT to almost $8.0 million.)