2017 Session

Budget Amendments - HB1500 (Conference Report)

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Reduce Funding for Commonwealth's Development Opportunity Fund

Item 106 #3c

Item 106 #3c

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Economic Development Incentive Payments FY2017 $0 FY2018 ($1,000,000) GF

Page 90, line 49, strike "$72,931,679" and insert "$71,931,679".

Page 91, line 10, strike the second "$20,750,000" and insert "$19,750,000".


(This amendment reduces funding of $1.0 million from the general fund the second year for the Commonwealth's Development Opportunity Fund (COF). The COF is a discretionary incentive available to the Governor and administered by the Virginia Economic Development Partnership to secure a business location or expansion project for Virginia. Grants are awarded to localities on a local matching basis with the expectation that the grant will result in a favorable location decision for the Commonwealth.)