2008 Session

Budget Amendments - HB30 (Conference Report)

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Water Quality Improvement Fund Interest

Item 361 #4c

Item 361 #4c

First Year - FY2009 Second Year - FY2010
Natural Resources
Conservation and Recreation, Department of FY2009 ($6,000,000) FY2010 $0 GF
FY2009 $6,000,000 FY2010 $0 NGF

Page 337, line 7, strike "$6,000,000 from the".
Page 337, line 8, strike "general fund and $14,000,000" and insert "$20,000,000".
Page 337, line 12, strike "$9,000,000" and insert "$15,000,000".
Page 337, after line 23, insert:
"G.3.  All funds provided in paragraph G.1. shall be deposited in the Virginia Natural Resources Commitment Fund established by House Bill 1335 and Senate Bill 511 of the 2008 Session of the General Assembly and shall be dispersed pursuant to § 10.1-2128.1, Code of Virginia."

(This amendment provides a total of $20.0 million for agricultural best management practices to control nonpoint source water pollution. It replaces $6.0 million from the general fund that was in the introduced budget with $6.0 million in interest earnings collected by the Department of Environmental Quality on the Water Quality Improvement Fund (WQIF). It is projected that the WQIF will earn $12.5 million in interest during fiscal year 2008 and at least $2.5 million during fiscal year 2009. The amendment also specifies that these funds shall be deposited into and dispersed from the Virginia Natural Resources Commitment Fund in accordance with the provisions of House Bill 1335/Senate Bill 511.)