Part 4 - DMA Property (language only)

Item 4-5.09 #1h

Language

Page 563, after line 30, insert:

"e. 1. There is hereby created in the state treasury a special nonreverting fund to be known as the Military Affairs Trust Fund.  The Fund shall be established on the books of the Comptroller.  Notwithstanding §4-5.09, §4-5.10 of this act and paragraph H. of § 2.2-1156, Code of Virginia, the Department of Military Affairs is hereby authorized to deposit the entire net proceeds from the sales or dispositions of real property under its possession and control into the Fund; provided, however, that, if tax-exempt bonds were issued by the Commonwealth or its related authorities, boards or institutions to finance the acquisition, construction, improvement or equipping of such real property, the net proceeds from the sale or disposition of such real property shall first be applied toward remediation options available under federal law to maintain the tax-exempt status of such bonds.  The Fund shall also consist of such moneys as shall be appropriated by the General Assembly and any private donations.  Interest earned on moneys in the Fund shall remain in the Fund and be credited to it.

2. The Fund shall be administered by the Adjutant General.  Moneys in the Fund shall be used for the purpose of acquisition, construction, improvement or equipping of Readiness Centers and/or other facilities necessary for the Department's operations or the operational expenses of the Department's facilities.

3. Expenditures from the Fund shall be subject to appropriation through an appropriations bill passed by the General Assembly.  Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Adjutant General.  Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund.

4. The Department of Military Affairs and the Department of General Services shall evaluate the use of real property under the possession and control of the Department of Military Affairs, consistent with the respective obligations of such departments under § 2.2-1153, Code of Virginia, and shall develop a strategic plan for use, sale or disposal of any such real property that is deemed to be surplus to the Department of Military Affairs' current or proposed needs.  With respect to Readiness Centers, such plan shall be consistent with the Department of Military Affairs' Readiness Center Transformation Master Plan, as approved by the federal National Guard Bureau, in order to achieve the objectives of the transformation plan.  Any such surplus real property being considered for sale or disposal for the purposes of contributing proceeds to the Military Affairs Trust Fund shall be disposed of in accordance with §§ 2.2-1150 or 2.2-1156, Code of Virginia, for not less than fair market value as supported by more than one appraisal performed by independent appraisers licensed as Virginia Certified General Real Estate Appraisers.  The Department of General Services shall be responsible for obtaining and reviewing such appraisals, and provide the results of the appraisals, with a recommendation of the fair market value of the appraised real property based upon such appraisals, to the Department of Military Affairs.  The Department of Military Affairs will be responsible to fund the cost to obtain the required appraisals.  The Department of General Services will obtain such appraisals at the expense of the Department of Military Affairs only upon approval by the Adjutant General."