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2017 Session

Budget Amendments - HB1500 (Conference Report)

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Retain Proceeds from Sale of Surplus Property (language only)

Item 7 #1c

Item 7 #1c
Legislative Department
Capitol Square Preservation Council

Language

Page 14, after line 41, insert:

"Any net proceeds from the public sale or auction of the surplus property from the General Assembly Building replacement project, less actual direct costs incurred by the Clerk of the House of Delegates, the Clerk of the Senate, and the Department of General Services, shall be deposited into a special non-reverting fund created on the books of the State Comptroller.  The Capitol Square Preservation Council shall transfer these funds to the Virginia Capitol Preservation Foundation after entering into an agreement to use such funds to support the restoration and ongoing preservation of Virginia's Capitol and Capitol Square."

Explanation

(This amendment establishes that net proceeds from the public sale or auction of the surplus property associated with the General Assembly Building replacement project, less costs incurred by the Clerks of the House of Delegates, the Senate, and the Department of General Services, be deposited into a non-reverting fund on the books of the State Comptroller. The funds shall be transferred by the Capitol Square Preservation Council to the Virginia Capitol Preservation Foundation after entering into an agreement to use such funds to support the restoration and ongoing preservation of the Capitol and Capitol Square.)

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