2017 Session

Budget Amendments - HB1500 (Conference Report)

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Reverse NGF Appropriation for Aerospace Supplier Cluster Grant

Item 106 #1c

Item 106 #1c

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Economic Development Incentive Payments FY2017 $0 FY2018 ($2,500,000) NGF

Page 90, line 49, strike "$72,931,679" and insert "$70,431,679".

Page 92, line 23, strike "$2,500,000 from the Aerospace".

Page 92, line 24, strike "Engine Manufacturing Supplier Cluster Grant Fund,".

Page 92, line 25, after "Fund", strike ","

Page 92, line 27, strike ", 59.1-284.21,".


(This amendment reverses the nongeneral fund appropriation of $2.5 million from the Aerospace Engine Manufacturing Supplier Cluster Grant Fund. In order for a qualified manufacturer to receive a payment under the Aerospace Engine Manufacturing Supplier Cluster Bonus Performance Grant Program, Virginia Code provides for the filing of an application with the Secretary of Commerce and Trade between July 1 and August 31, and the subsequent payment of the grant in the following fiscal year. No such application has been received. It is anticipated that funding will be appropriated from the general fund in the next biennium to fund grant payments after a qualified application is received.)