2013 Session

Budget Amendments - SB800 (Committee Approved)

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FACT Fund Language (language only)

Item 469 #2s

Item 469 #2s

Central Appropriations
Central Appropriations

Page 434, line 51, after "J.1." insert "a."
Page 434, line 54, strike "purposes" and insert "purpose".
Page 435, strike line 1 through line 11 and insert:
"Fund is solely to offset the potential loss of any revenue to the Commonwealth, either directly or indirectly related to any actions of the United States Congress as part of any federal budget reductions.  In addition to the amounts appropriated herein, included in the FACT Fund is the balance of $22,500,000, which was appropriated in Item 470 K.1 of Chapter 2, 2012 Special Session I.  The first priority for the use of these funds shall be to ensure that the Commonwealth maintains sufficient funding to meet all required debt service payments appropriated in Item 280 of this act.  
b. Notwithstanding the provisions of paragraph J.1.a., $6,213,496 from the FACT Fund shall be provided in the second year, in addition to the nongeneral fund amounts in Item 459.05 A. of this act, to meet the Commonwealth's contribution to address the encroachment of the United States Navy Master Jet Base Oceana pursuant to the 2005 Base Realignment and Closure Commission recommendations."

(This amendment provides that the FACT fund shall only be used to offset the potential loss of revenue to the Commonwealth as the result of federal budget reductions, with the exception that a portion is provided for mitigating encroachment around the United States Navy Master Jet Base Oceana.)