2008 Session

Budget Amendments - HB30 (Conference Report)

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Adhere to SRI Payment Schedule in Code

Item 473 #3c

Item 473 #3c

First Year - FY2009 Second Year - FY2010
Central Appropriations
Central Appropriations FY2009 ($5,000,000) FY2010 ($2,000,000) GF

Page 429, line 25, strike "$25,956,806" and insert "$20,956,806".
Page 429, line 25, strike "$41,016,406" and insert "$39,016,406".
Page 432, strike lines 47 through 52 and insert:
"I. It is the intent of the General Assembly to fulfill the commitment made to provide incentive payments for the location of a research-related entity in accordance with the time frames set out in § 2.2-2240.1 D, Code of Virginia."

(This amendment eliminates the proposed payment of the remaining incentive grants a research-related entity may be eligible for under provisions of Chapter 693, of the Acts of Assembly of 2007. Of the total of $22.0 million for which the entity is eligible through fiscal year 2013, $15.0 million from the general fund has been paid although the entity has just begun operations in the Commonwealth in 2007. The remaining grants shall be paid in accordance with the provisions of the legislation and after the investments, job creation and expanded research opportunities have been demonstrated.)