2008 Session

Budget Amendments - HB30 (Floor Approved)

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Capture Additional Funding for VA Water Facilities Loan Fund

Item 368 #2h

Item 368 #2h

First Year - FY2009 Second Year - FY2010
Natural Resources
Environmental Quality, Department of FY2009 ($1,200,000) FY2010 $0 GF

Page 340, line 49, strike "$119,884,181" and insert "$118,684,181".

(This amendment eliminates $1.2 million in additional general fund support for the Virginia Water Facilities Revolving Loan Fund. The appropriation was to serve as match for additional federal funds. However, when the Department of Environmental Quality announced that Virginia could fulfill its responsibilities for reducing nitrogen and phosphorus pollution from wastewater treatment plants, these additional federal funds were not available. Given that progress, and the fact that the majority of the loans made by the Virginia Water Facilities Revolving Loan Fund are based upon the stream of repayments previously made loans, it did not seem this additional general fund support was warranted given the reduction in available general fund resources. Moreover, it was just two years ago that the Governor's introduced budget captured $3.9 million general fund support for fiscal year 2007 for these federal dollars and an additional $720,000 in general fund support for these federal dollars for fiscal year 2008.)