2017 Session

Budget Amendments - HB1500 (Conference Report)

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VEDP Reporting Language (language only)

Item 125 #5c

Item 125 #5c

Commerce and Trade
Virginia Economic Development Partnership


Page 107, after line 51, insert,

R.1. VEDP shall submit its strategic plan, marketing plan and operational plan to the Joint Legislative Audit and Review Commission Special Subcommittee on Economic Development no later than December 1, 2017 for review.

2. In addition, VEDP shall submit its plans for operating and staffing the new Incentives Division, the new Office of the Auditor, and the International Trade Division for review by the JLARC Special Subcommittee on Economic Development no later than December 1, 2017. These plans should include, but not be limited to, organization and staffing qualifications, as well as fiscal estimates for potential increases in funding and positions, if applicable.

3. The Comptroller is hereby authorized to withhold general funds in the amount of $1,500,000 second year until notified by the Chairmen of the House Appropriations and the Senate Finance Committees that VEDP has complied with this request by the date specified and that all or a portion specified of the funds are authorized for disbursement.”


(This amendment requires that VEDP provide its strategic, marketing and operational plans to the JLARC Special Subcommittee for Economic Development. In addition, VEDP is required to submit their plans for establishing the new Auditor, Incentives Division, and International Trade Division, so that the General Assembly may make determinations about potential added costs.)