Chief Patron: Joannou
Transfer for VPA PILOT Fees

Item 458 #1h

Language
Page 417, line 31, strike "$69,452,654" and insert "$68,452,654".

Explanation
(This amendment reduces the administrative budget of the Virginia Port Authority to cover the cost of an increased appropriation for payment in lieu of taxes to Port host localities and also serves to address the excessive administrative costs of the entity, as identified in the recently released JLARC review of the VPA. A companion amendment to Item 457 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.)