2010 Session

Budget Amendments - SB30 (Committee Approved)

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Extend VPSA Technology Grants Term

Item 132 #16s

Item 132 #16s

First Year - FY2011 Second Year - FY2012
Education: Elementary and Secondary
Direct Aid To Public Education FY2011 ($2,350,074) FY2012 ($2,550,000) GF

Page 75, line 12, strike "$5,580,822,781" and insert "$5,578,472,707".
Page 75, line 12, strike "$5,780,481,577" and insert "$5,777,931,577".
Page 84, strike lines 22 through 25.
Page 84, after line 29, insert:
"3.1 Appropriations for contributions in paragraphs 2 and 3 above include payments from funds derived from the principal of the Literary Fund in accordance with Article III, Section 8, of the Constitution of Virginia.  The amounts set aside from the Literary Fund for these purposes shall not exceed $127,350,074 the first year and $140,550,000 the second year."
Page 91, line 19, strike "$13,054,638" and  insert "$10,704,564".
Page 91, line 20, strike "$13,055,000" and insert "$10,505,000".

(This amendment reflects savings in debt service payments by extending the term of the FY 2010 VPSA technology grants issuance from 5 years to 6 years. Lower debt service payments required by the Literary Fund frees up a like amount of dollars to cover teacher retirement/social security, thereby freeing up the general funds.)