125.10#1c (VITC) Reverse Funding to Create Virginia International Trade Corporation. HB1500

State Budget

2017 Session

Budget Amendments - HB1500 (Conference Report)

Bill Order » Item 125.10 #1c

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Reverse Funding to Create Virginia International Trade Corporation

Item 125.10 #1c

Item 125.10 #1c	First Year - FY2017	Second Year - FY2018
Commerce and Trade
Virginia International Trade Corporation	FY2017 $0	FY2018 ($7,200,266)	GF
	FY2017 0.00	FY2018 -24.00	FTE

Language
Page 108, line 4, strike "$7,200,266" and insert "$0".

Page 108, strike lines 8 through 11.

Explanation

(This amendment reverses funding of $7.2 million from the general fund and 24 positions in fiscal year 2018 to create the proposed Virginia International Trade Corporation as a new state agency.)

Item 125.10

Item 125.10	First Year - FY2017	Second Year - FY2018
Economic Development Services (53400)	$0	$7,200,266
Economic Development Services (53412)	FY2017 $0	FY2018 $7,200,266
Fund Sources:
General	FY2017 $0	FY2018 $7,200,266

Authority: Title 2.2, Chapter 27, Article 11, Code of Virginia.

Out of the amounts in this Item, $3,455,000 the second year from the general fund shall be provided as follows: $950,000 to support the Virginia International Trade Alliance, $1,900,000 for the Going Global Defense Initiative and the State Trade Export Promotion grant program, and $605,000 to support Virginia exporters.

State Budget

2017 Session

Budget Amendments - HB1500 (Conference Report)

Reverse Funding to Create Virginia International Trade Corporation

Item 125.10 #1c

Item 125.10 #1c

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Item 125.10