Capital Planning (language only)

Item C-178.10 #1s

Language
Page 475, following line 11 insert:
"B.1. On or before June 30, 2010, the State Comptroller shall revert the unexpended balance in the Central Capital Planning Fund (Fund/Fund Detail 0965) estimated at $7,553,536 to the general fund. The State Treasurer is authorized to advance treasury loans that shall not exceed the costs of planning for each project from which funds are reverted pursuant to this paragraph.
2. Such treasury loans as are advanced pursuant to this item shall be repaid from the general fund, or proceeds of Virginia Public Building Authority, or Virginia College Building Authority Bonds upon authorization of construction funding."

Explanation
(This amendment captures savings of $7.6 million NGF previously appropriated for planning of capital projects and transfers these savings to the general fund. Treasury loans are authorized to replace the reverted planning funds. A companion amendment to SB 30 captures general fund savings of $23.3 million for a total of $30.9 million.)