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2020 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: McClellan
Payment In-Lieu-Of Taxes (language only)

Item 79 #3s

Item 79 #3s

Administration
Department of General Services

Language

Page 69, line 1, after "4." strike the balance of line 1 and all of the lines 2 through 19 and insert:

"The Department shall establish a sum-sufficient internal service fund, which shall be paid from revenues derived from an annual charge assessed to each state agency and institution occupying real property owned by the Commonwealth of Virginia as required, for payments in lieu of taxes to eligible counties, cities and towns consistent with the provisions of § 58.1-3403."



Explanation

(This amendment includes language conslidating the process for calculating, collecting, and remitting payments to localities for payments in lieu of taxes for tax-exempt state owned property.)