2015 Session

Budget Amendments - HB1400 (Conference Report)

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Tourism Growth Incentive Funding (language only)

Item 101 #2c

Item 101 #2c

Commerce and Trade
Economic Development Incentive Payments

Page 88, strike lines 8 through lines 11, and insert:
“O. Out of this appropriation $500,000 from the general fund in the second year is provided for the purpose of attracting new tourism and hospitality projects and expanding existing tourism and hospitality projects in the Commonwealth.  Funds shall be disbursed through the Virginia Tourism Authority as grants or loans to political subdivisions or business entities authorized to transact business in the Commonwealth based on criteria as approved by the Governor.  The Governor shall transmit his specific criteria for awarding and distributing these funds to the Chairmen of the House Committee on Appropriations and the Senate Finance Committee prior to any expenditure of this appropriation.”

(This amendment amends language relating to the promotion of expanded tourism activities through the use of economic development incentives.)