2010 Session

Budget Amendments - HB30 (Conference Report)

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GOF Reporting (language only)

Item 96 #3c

Item 96 #3c

Commerce And Trade
Economic Development Incentive Payments

Page 52, line 6, after "Virginia." insert:
"If the Governor, pursuant to the provisions of § 2.2-115, E.1., Code of Virginia, determines that a project of is regional or statewide provisions and elects to waive the requirement for a local matching contribution, such action shall be included in the  report on expenditures from the Governor's Development Opportunity Fund required by § 2.2-115, F., Code of Virginia.  Such report shall include an explanation on the jobs anticipated to be created, the capital investment made for the project, and why the waiver was provided."

(This amendment expands the content of the report on the uses of the Governor's Opportunity Fund to include an accounting of any decision to waive the local matching requirement authorized pursuant to legislation adopted by the 2010 General Assembly.)