2007 Session

Budget Amendments - HB1650 (Member Request)

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Chief Patron: Landes
Racing Commission Obligations (language only)

Item 124 #1h

Item 124 #1h

Commerce And Trade
Virginia Racing Commission

Page 117, strike lines 31 through 37 and insert:
"D.  Out of these amounts, the obligations set out in § § 59.1-392 D 5 and D 6, Code of Virginia, shall be fully funded."

(This amendment fully funds the statutory requirements of the Virginia Horse Center Foundation and the Virginia Horse Industry Board from nongeneral fund revenues of the Virginia Racing Commission. The Code-stipulated amounts have not been paid in recent years; instead lesser amounts have been set out in the budget for these organizations. This would increase funding for the two entities from $40,000 each year to an estimated $80,000 each year from revenues generated by horse racing in the Commonwealth.)