2017 Session

Budget Amendments - SB900 (Member Request)

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Chief Patron: Hanger
VA529 - SOAR funding and Eliminate New Language

Item 488 #1s

Item 488 #1s

First Year - FY2017 Second Year - FY2018
Independent Agencies
Virginia College Savings Plan FY2017 $2,000,000 FY2018 $1,000,000 NGF

Page 478, line 51, strike "$25,593,353" and insert "$27,593,353".
Page 478, line 51, strike "$25,359,984" and insert "$26,359,984".

Page 479, line 25, after "$2,000,000" insert "the first year and $1,000,000"

Page 479, strike lines 27-33.


(This amendment would amend Item 488 D.1. to include funding for the SOAR Virginia program for each year of the 2016-18 Biennium. This amendment also would delete Item 488 D.2 and D.3. The language in D.2. required reallocation of $1.0 million of existing NGF appropriation for the SOAR program. The language in D.3. required that the NGF appropriation for the SOAR program only be available if the Virginia529 Prepaid fund had an actuarial fund value of at least 100 percent in the prior FY and that the agency operating expenses must have less than a 70 percent operating expense to operating revenue ratio in the prior FY unless otherwise authorized by the Governor.)