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2016 Session

Budget Amendments - HB30 (Conference Report)

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Virginia Sports Hall of Fame and Museum

Item 129 #1c

Item 129 #1c

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Virginia Tourism Authority FY2017 $250,000 FY2018 $0 GF

Language
Page 97, line 22, strike "$22,196,335" and insert "$22,446,335".

Page 98, line 6, after "F.", insert "1."

Page 98, line 6, strike "$1,950,000" and insert "$2,200,000".

Page 98, line 11, strike "up".

Page 98, line 12, strike "to $250,000" and insert "$500,000".

Page 98, after line 13, insert:

"2. Prior to payment of any grants provided from the amounts included in paragraph F.1 above to the City of Portsmouth for the benefit of a regional tourism entity, and no later than November 1, 2016, the City of Portsmouth shall provide to the Chairmen of the House Appropriations and Senate Finance Committees a report detailing the financial condition of the regional tourism entity and a plan for achieving its long-term  financial sustainability.  The report shall include the following for the three most recent fiscal years: (i) a statement of financial position summarizing the assets, liabilities and net assets of the organization; (ii) a statement of activity showing total attendance, income and expenses; and (iii) a statement of cash flow."



Explanation

(This amendment provides an additional $250,000 the first year from the general fund to the City of Portsmouth for the Virginia Sports Hall of Fame and Museum.)