2020 Session

Budget Amendments - HB30 (Conference Report)

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Central CO - Other Capital Infrastructure and Improvements - Remove CHKD Beds and Technical Language for Portsmouth Marine Terminal Project

Item C-72 #1c

Item C-72 #1c

First Year - FY2021 Second Year - FY2022
Central Appropriations
Central Capital Outlay FY2021 ($33,400,000) FY2022 $0 NGF

Page 505, line 13, strike "$73,400,000" and insert "$40,000,000".

Page 505, strike lines 15 through 33 and insert:

"A. Pursuant to § 2.2-2260 et seq. of the Code of Virginia, the Virginia Public Building Authority is authorized to issue bonds in an aggregate amount not to exceed $40,000,000, plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during acquisition, construction, or renovation and for one year after completion thereof, and other financing expenses, in order to finance a capital project at the Portsmouth Marine Terminal of the Virginia Port Authority consisting of the expansion, renovation, and improvement of infrastructure for the offshore wind supply chain; provided, however, that such debt may only be issued if the MEI Project Approval Commission, established pursuant to Chapter 47 (§ 30-309 et seq.) of Title 30, and the Virginia Port Authority each approve a public private partnership with respect to such capital project.  The General Assembly hereby appropriates the proceeds from any such bonds for the foregoing projects.  Debt service on any such bonds for such project shall be provided from appropriations to the Treasury Board."


(This amendment defers a proposed new project and provides initial oversight of the proposed terms of the Portsmouth Marine Terminal wind energy project agreement to the MEI Commission.)