2006 Special Session I

Budget Amendments - HB5002 (Committee Approved)

Towing and Recovery Operators Board

Item 451.10 #1h

Item 451.10 #1h

First Year - FY2007 Second Year - FY2008
Motor Vehicle Dealer Board FY2007 $350,000 FY2008 $350,000 NGF

Page 386, after line 27, insert:
"A. Pursuant to the provisions of House Bill 1258, 2006 Session of the General Assembly, there is hereby created the Board for Towing and Recovery Operators.  Initial funding for the Board shall be provided from a Treasury Loan to be repaid within 24 months of Board operation.  
B. The Board for Towing and Recovery Operators is hereby authorized to request and receive a Treasury Loan to fund the necessary start-up costs associated with initial operations of the Board in an amount not to exceed $350,000 in the first year and $350,000 in the second year.  Revenues received during the biennium and which are due to the Board in accordance with provisions of House Bill 1258 shall be used to repay any treasury loans made to the Board.  Any treasury loan shall be in compliance with § 4-3.02 of this act."

(This amendment creates the Board for Towing and Recovery Operators pursuant to House Bill 1258 and Senate Bill 134, 2006 Session of the General Assembly. This funding will be used to hire staff and cover rental and other operating costs of the Board. Initial funding will be provided through a Treasury Loan with later year operations being covered by the costs of fees associated with membership. It is anticipated that the Board will be self-funding before the close of the 2006-2008 biennium.)