2012 Special Session I

Budget Amendments - HB1301 (Conference Report)

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Modified Conf. FACT Fund language

Item 469 #1c

Item 469 #1c

First Year - FY2013 Second Year - FY2014
Central Appropriations
Central Appropriations FY2013 $0 FY2014 ($20,000,000) GF

Page 358, line 9, strike "$30,042,240" and insert "$10,042,240".
Page 360, strike lines 9 through 11 and insert:
"J.1.  There is hereby appropriated in the second year an amount not to exceed $20,000,000 from that portion of the general fund balance designated by the State Comptroller on June 30, 2013, for nonrecurring expenditures pursuant to § 2.2-1514 B., Code of Virginia, to further capitalize the Federal Action Contingency Trust (FACT) Fund.  The purposes of this FACT Fund are to address: (i) impacted localities in funding needs associated with the implementation of and response to the recommendations of the 2005 Base Realignment and Closure Commission (BRAC) or any subsequent BRAC recommendations; (ii) the continuation of statutorily-required federally mandated services at the present level if federal budget reductions are imposed; or (iii) unique economic development opportunities to expand the Commonwealth’s ability to attract businesses in targeted sectors to help transition industries negatively affected by federal budget reductions or BRAC recommendations.  This FACT Fund may also include support for wastewater treatment facility infrastructure with a Department of Environmental Quality approved Preliminary Engineering Report, as defined in 9 VAC 25-790-110, serving a BRAC affected community with a median household income below $50,000.
2. There is hereby created an advisory committee to provide advice to the Governor concerning the use of the Federal Action Contingency Trust (FACT) Fund.
The FACT Fund Approval Commission is established as an advisory commission in the legislative branch and shall consist of 10 members, including the Chairman of the House Appropriations Committee and four members of the House Appropriations Committee selected by the chairman, the Chairman of the Senate Finance Committee and four members of the Senate Finance Committee selected by the chairman.  
The secretaries of Commerce and Trade, Health and Human Resources and Finance shall also be available to provide technical assistance to the advisory committee.  
3. Prior to the distribution of any funds from the Federal Action Contingency Trust (FACT) Fund,
The FACT Fund Approval Commission shall review all prospective uses of the FACT Fund and recommend approval or denial of such uses to the Governor.  
The Governor shall also notify the chairmen of the Senate Finance Committee and the House Appropriations Committee in writing within ten days concerning his decision to distribute money from the FACT reserve having previously received approval from the advisory committee."

(This amendment modifies the language contained in House Bill 1301 as introduced providing for the Federal Action Contingency Trust (FACT) Fund in order to establish criteria for use of the funding and an advisory committee that would recommend whether specific uses of the FACT Fund should be approved. The language provides for the use of fiscal year 2013 year-end general fund balances to support the FACT Fund, which could enable the fund to proceed in supporting the established criteria more quickly than would have been the case as outlined in House Bill 1301.)