2021 Special Session I

Budget Amendments - HB1800 (Floor Approved)

View Budget Item
View Budget Item amendments

Economic Development Access Program - Moratorium on Repayment (language only)

Item 451 #1h

Item 451 #1h

Department of Transportation


Page 534, after line 28, insert :

"G. Notwithstanding the provisions of § 33.2-1509, or any other section of Code, no locality that has been allocated funds for a bonded project by the Commonwealth Transportation Board pursuant to § 33.2-1509 of the Code of Virginia shall be required to repay such funds during the 48-month period beginning on the effective date of this act, provided that all of the other conditions of the Commonwealth Transportation Board's economic development access policy are met".


(This amendment gives localities who have received funds through the Economic Development Access Program a 48 month moratorium before repayment would be required.)