2019 Session

Budget Amendments - HB1700 (Committee Approved)

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Virginia Economic Development Partnership

Item 122 #1h

Item 122 #1h

First Year - FY2019 Second Year - FY2020
Commerce and Trade
Virginia Economic Development Partnership FY2019 ($20,000,000) FY2020 $0 GF

Page 115, line 16, strike "$51,597,198" and insert "$31,597,198".


(This amendment removes funding proposed in House Bill 1700 as introduced for the Virginia Economic Development Partnership for its Business-Ready Sites program. The Committee budget funding levels were limited to the additional dollars available pursuant to the economic reforecast presented in December, identified programmatic savings, and revenues generated by legislation expanding the collection of sales tax attributable to internet sales. All revenues attributable to the Tax Cuts and Jobs Act (TCJA) are captured in the Taxpayer Relief Fund and the Revenue Reserve Fund in Item 475.10. This required removing approximately $1.2 billion in spending compared to House Bill 1700 as introduced.)