2006 Special Session I

Budget Amendments - HB5002 (Conference Report)

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Korean Sister State (language only)

Item 119 #7c

Item 119 #7c

Commerce And Trade
Virginia Economic Development Partnership

Page 93, after line 52, insert:
"P.  The Virginia Economic Development Partnership is authorized to provide support as it deems appropriate to Virginia businesses seeking to develop public-private relationships with foreign governmental entities, such as Virginia's sister province of Gyeong-gi in the Republic of Korea, if such relationships will result in an economic benefit for the Commonwealth, including increased foreign investments, tourism and academic exchange."

(This amendment authorizes the Partnership to provide such support as it deems appropriate to Virginia companies developing business relationships with foreign governmental organizations, including the Commonwealth's sister province in Korea. Before providing support, the Authority will determine the resulting economic benefits for Virginia.)