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2016 Session

Budget Amendments - HB29 (Committee Approved)

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Funding for Site Development for Regional Economic Development Project

Item 468 #6h

Item 468 #6h

First Year - FY2015 Second Year - FY2016
Central Appropriations
Central Appropriations FY2015 $0 FY2016 $1,000,000 GF

Language
Page 184, line 40, strike "$13,613,298" and insert "$14,613,298".

Page 187, after line 53, insert:

"O. Out of this appropriation, $1,000,000 from the general fund in the second year shall be transferred to the Commonwealth Opportunity Fund.  

P. In addition to all other economic incentive payments already approved for the project, the Governor may authorize an additional $1,500,000 from the Commonwealth Opportunity Fund as needed to assist with site development improvements for a regional economic development project related to the location of a major automotive supplier manufacturer in Botetourt County."  



Explanation

(This amendment provides $1.0 million from the general fund in additional funding for the Commonwealth Opportunity Fund. In addition, the language allows the Governor to provide an additional $1,500, 000 from the Commonwealth Opportunity Fund to assist Botetourt County with site improvements related to the location of a major automotive supplier manufacturer to the Roanoke Valley Region if he deems it necessary and appropriate.)