2015 Session

Budget Amendments - HB1400 (Committee Approved)

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Research Entrepreneurs

Item 120 #2h

Item 120 #2h

First Year - FY2015 Second Year - FY2016
Commerce and Trade
Virginia Economic Development Partnership FY2015 $0 FY2016 $350,000 GF

Page 98, line 29, strike "$19,376,464" and insert "$19,726,464".
Page 100, after line 5, insert:
"P.  Out of the amounts for Economic Development Services shall be provided $350,000 the second year from the general fund to continue a program connecting national security agency research and development programs and project managers with entrepreneurs in Northern Virginia."

(This amendment proposes an appropriation to the VEDP of $350,000 from the general fund in the second year to provide continued support for an initiative that received initial funding from the Federal Action Contingency Trust Fund in fiscal year 2013, but whose funds were exhausted at the end of calendar year 2014. The program is expected to be self-sustaining following the funding requested for one additional year. National security agency research and development spending is one of the few discretionary areas of the federal budget that has increased and projects are for even further increases. These funds originate with federal agencies that are housed and headquartered in Northern Virginia with billions in funding flowing for national security research and development and its commercialization.)