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2020 Special Session I

Budget Amendments - HB5005 (Conference Report)

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Remove Rolls-Royce Incentive Payments

Item 112 #1c

Item 112 #1c

First Year - FY2021 Second Year - FY2022
Commerce and Trade
Economic Development Incentive Payments FY2021 ($3,000,000) FY2022 ($3,000,000) GF
FY2021 ($630,000) FY2022 ($261,000) NGF

Language
Page 23, line 5, strike "$77,898,533" and insert "$74,268,533".
Page 23, line 5, strike "$55,528,283" and insert "$52,267,283".

Page 23, line 5, strike "Not set out." and insert:                  

"D. Out of the appropriation for this item, $3,000,000 the first year and $3,000,000 the second year from the general fund shall be deposited to the Aerospace Manufacturing Performance Grant Fund, and $630,000 the first year and $261,000 the second year from the Aerospace Manufacturer Workforce Training Grant Fund is hereby appropriated. These funds shall be used for grants in accordance with §§ 59.1-284.20 and 59.1-284.22, Code of Virginia."



Explanation

(This amendment removes appropriations for economic development incentive payments related to the Rolls-Royce facility in Prince George County. The facility is closing due to a COVID-related drop in demand in the aerospace industry. Upon enrolling, Item 112 will be set out and enrolled appropriately.)