Thurman Claim

Item 270 #2h

Language
Page 224, line 41, strike "$7,384,559" and insert "$7,823,157".
Page 224, line 50, before "The", insert "A."
Page 225, after line 3, insert:
"B.  Out of the amounts appropriated for Insurance Services, there shall be paid for the relief of Phillip Thurman from the general fund, upon execution of a release of all present and future claims he may have against (i) the Commonwealth or any instrumentality, officer, employee, or political subdivision thereof, (ii) any legal counsel appointed pursuant to § 19.2-159, Code of Virginia, and (iii) all other parties of interest, (a) the sum of $100,000 to be paid to Phillip Thurman on or before August 1, 2006, by check issued by the State Treasurer on warrant of the Comptroller and (b) the sum of $338,598 to purchase an annuity for the primary benefit of Phillip Thurman providing equal monthly payments for a period of 15 years commencing on or before September 1, 2006.  
C.  The State Treasurer shall purchase the annuity at the lowest cost available from any A+ rated company authorized to sell annuities in the Commonwealth, including any A+ rated company from which the State Lottery Department may purchase an annuity.  The annuity shall provide that it shall not be sold, discounted, or used as securitization for loans and mortgages.  The annuity shall, however, contain beneficiary provisions providing for the annuity's continued disbursement in the event of the death of Phillip Thurman to his children and his spouse upon his death."

Explanation
(This amendment provides $438,598 the first year from the general fund for the relief of Phillip Thurman, who spent 20 years in prison for crimes for which he was later exonerated based on DNA evidence. Mr. Thurman receives $100,000 upfront in cash, and $338,598 through monthly payments from a 15-year annuity.)