2013 Session

Budget Amendments - HB1500 (Member Request)

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Chief Patron: Joannou
VPA Payments in Lieu of Taxes

Item 457 #2h

Item 457 #2h

First Year - FY2013 Second Year - FY2014
Virginia Port Authority FY2013 $0 FY2014 $1,000,000 NGF

Page 417, line 12, strike "$3,107,625" and insert "$4,107,625".

(This amendment provides an additional $1.0 million from Virginia Port Authority funding to compensate the jurisdictions hosting the Port facilities to cover the costs incurred by the jurisdictions for the provision of services to the Ports as well as to recognize the loss of tax revenues from the location of these state-owned and nontaxable facilities. A companion amendment to Item 458 reduces the administrative budget of the Virginia Port Authority to cover the cost of this increased appropriation and also serves to address the excessive administrative costs of the entity, as identified in the recently released JLARC review of the VPA.)