2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Lucas
Host Cities Economic Development Incentive Fund

Item 105 #1s

Item 105 #1s

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Secretary of Commerce and Trade FY2017 $0 FY2018 $1,000,000 GF

Page 90, line 4, strike "$703,779" and insert "$1,703,779".

Page 90, following line 38, insert:

"E. Out of the amounts authorized in this item, $1,000,000 the second year from the general fund shall be deposited to the Host Cities Economic Development Incentive Fund created pursuant to SB 1013 of the 2017 General Assembly. The Secretary, in collaboration with the Secretary of Transportation, shall develop appropriate grant guidelines for the administration of the program consistent with the provisions of the legislation. The funding shall be disbursed in the form of grants to eligible localities in accordance with provisions of the legislation and used solely for the purposes of supporting economic development, growth of existing businesses, and job creation related to the Port of Virginia.".


(This amendment provides $1.0 million GF in the second year for the creation of the Host Cities Economic Development Incentive Fund to support economic development related projects in the host localities to the Port of Virginia. A companion amendment in the Secretary of Transportation establishes the Host Cities Transportation Support Fund.)