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2022 Session

Budget Amendments - HB30 (Committee Approved)

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GO Virginia Authorization (language only)

Item 115 #4h

Item 115 #4h

Commerce and Trade
Department of Housing and Community Development

Language

Page 101, after line 16, insert:

"5. The Virginia Growth and Opportunity Board may rescind funds allocated to regional councils on a per capita basis, if the unobligated balances of a regional council exceeds its average annual per capita distribution award. Any funds rescinded pursuant to this paragraph shall be retained in the Virginia Growth and Opportunity Fund (09272) and may be used by the Virginia Growth and Opportunity Board for grant awards to competitive projects. The Department shall notify the Chairs of the House Appropriations and Senate Finance and Appropriations Committees within 10 days of the decision by the Virginia Growth and Opportunity Board to rescind regional per capital allocations. The regional council, the amount, and reason for unused funds shall be included in such notice.

Page 101, line 17, strike "5" and insert "6".



Explanation

(This amendment authorizes the GO Virginia Board to rescind unused regional per capita allocations in excess of a regional council's average annual per capita distribution and repurpose unused funds for competitive grant awards.)