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2017 Session

Budget Amendments - HB1500 (Member Request)

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Chief Patron: James
Host Cities Economic Development Incentive Program

Item 125 #2h

Item 125 #2h

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Virginia Economic Development Partnership FY2017 $0 FY2018 $1,000,000 GF

Language
Page 106, line 5, strike "$19,235,660" and insert "$20,235,660".

Page 107, after line 51, insert:

“R. Out of this amount $1,000,000 in the second year from the general fund shall be provided to establish the Host Cities Economic Development Incentive Program for fiscally stressed host cities of the Virginia Port Authority.”



Explanation

(This amendment provides $1,000,000 in the second year from the general fund to establish the Host Cities Economic Development Incentive Program for fiscally stressed host cities of the Virginia Port Authority. This is a request of the General Assembly by the City of Portsmouth to have the Virginia Economic Development Partnership to attract Port-related business to the host cities.)