2016 Session

Budget Amendments - HB30 (Conference Report)

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Reduce New Funding for VEDP

Item 125 #1c

Item 125 #1c

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Virginia Economic Development Partnership FY2017 ($4,000,000) FY2018 ($4,000,000) GF

Page 95, line 1, strike "$27,601,544" and insert "$23,601,544".
Page 95, line 1, strike "$27,601,546" and insert "$23,601,546".

Page 96, after line 24, insert:

"P. Out of the amounts in this item, $5,160,700 the first year and $5,160,700 the second year from the general fund shall be provided to strengthen and promote economic development initiatives. The funding shall be allocated on an annual basis as follows: $466,000 to expand and rebrand the Virginia Jobs Investment Program, $1,000,000 to support the Virginia International Trade Alliance, $2,000,000 to match federal grants for the Going Global Defense Initiative, Virginia International Trade Alliance, and the State Trade Export Promotion (STEP) grant program, $650,000 to Support Virginia exporters, $250,000 to implement the recommendations of the Virginia Sustained Growth Study  and $794,700 to support US and international business attraction."  


(This amendment reduces the proposed new funding included in the introduced budget for the Virginia Economic Development Partnership from $9.2 million from the general fund each year to $5.2 million each year. The language designates how the new funding should be allocated.)