2012 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Newman
Co-Patron(s): Garrett, Marsh, Watkins
VPBA for Combined Sewer Overflow Projects

Item 366 #3s

Item 366 #3s

First Year - FY2013 Second Year - FY2014
Natural Resources
Environmental Quality, Department of FY2013 $78,000,000 FY2014 $0 NGF

Page 272, line 32, strike "$101,723,153" and insert "$179,723,153".
Page 273, after line 20, insert:
"E.  The Virginia Public Building Authority is hereby authorized to issue bonds in an amount not to exceed $78,000,000, to be used to match local and federal funding or financing for Combined Sewer Overflow projects in the Cities of Lynchburg and Richmond.  Out of this amounts, up to $28,000,000 shall be provided to the City of Lynchburg and $50,000,000 to the City of Richmond."

(This amendment provides authorization for the Virginia Public Building Authority to issue bonds to support Lynchburg and Richmond Combined Sewer Overflow projects. It is estimated that Lynchburg's remaining costs total $280 million while Richmond's remaining costs are $500 million. This would provide a 10 percent state match, which is consistent with the amount of prior state support.)