Item 3-2.03 |
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§ 3-2.03 LINES OF CREDIT
a. The State Comptroller shall provide lines of credit to the following agencies, not to exceed the amounts shown:
Administration of Health Insurance, Health Benefits Services | $75,000,000 |
Administration of Health Insurance, Line of Duty Act | $10,000,000 |
Department of Accounts, for the Payroll Service Bureau | $400,000 |
Department of Accounts, Transfer Payments | $5,250,000 |
Alcoholic Beverage Control Authority | $80,000,000 |
Department of Corrections, for Virginia Correctional Enterprises | $1,000,000 |
Department of Corrections, for Federal Grant Processing | $1,000,000 |
Department of Emergency Management, for Hazardous Material Incident Response | $150,000 |
Department of Emergency Management, for Federal Grant Processing | $500,000 |
Department of Emergency Management, for Next Generation 911 service | $15,000,000 |
Department of Environmental Quality | $5,000,000 |
Department of Human Resource Management, for the Workers' Compensation Self Insurance Trust Fund | $10,000,000 |
Department of Behavioral Health and Developmental Services | $30,000,000 |
Department of Medical Assistance Services, for the Virginia Health Care Fund | $12,000,000 |
Department of Motor Vehicles | $30,600,000 |
Department of the Treasury, for the Unclaimed Property Trust Fund | $5,000,000 |
Department of the Treasury, for the State Insurance Reserve Trust Fund | $25,000,000 |
Virginia Lottery | $56,000,000 |
Virginia Information Technologies Agency | $165,000,000 |
Virginia Tobacco Settlement Foundation | $3,000,000 |
Department of Historic Resources | $600,000 |
Department of Fire Programs | $30,000,000 |
Compensation Board | $8,000,000 |
Department of Conservation and Recreation | $4,000,000 |
Department of Military Affairs, for State Active Duty | $5,000,000 |
Department of Military Affairs, for Federal Cooperative Agreements |
$30,000,000 |
Virginia Parole Board | $50,000 |
Commonwealth's Attorneys' Services Council | $200,000 |
Department of State Police, for the Internet Crimes Against Children Grant | $3,700,000 |
Department of State Police, for Federal Grant Processing | $1,500,000 |
Department of Social Services, for timing issues related to the receipt of federal grants and other payments | $17,000,000 |
b. The State Comptroller shall execute an agreement with each agency documenting the procedures for the line of credit, including, but not limited to, applicable interest and the method for the drawdown of funds. The provisions of § 4-3.02 b of this act shall not apply to these lines of credit.
c. The State Comptroller, in conjunction with the Departments of General Services and Planning and Budget, shall establish guidelines for agencies and institutions to utilize a line of credit to support fixed and one-time costs associated with implementation of office space consolidation, relocation and/or office space co-location strategies, where such line of credit shall be repaid by the agency or institution based on the cost savings and efficiencies realized by the agency or institution resulting from the consolidation and/or relocation. In such cases the terms of office space consolidation or co-location strategies shall be approved by the Secretary of Administration, in consultation with the Secretary of Finance, as demonstrating cost benefit to the Commonwealth. In no case shall the advances to an agency or institution exceed $1,000,000 nor the repayment begin more than one year following the implementation or extend beyond a repayment period of seven years.
d. The State Comptroller is hereby authorized to provide lines of credit of up to $2,500,000 to the Department of Motor Vehicles and up to $2,500,000 to the Department of State Police to be repaid from revenues provided under the federal government's establishment of Uniform Carrier Registration.
e. The Virginia Lottery is hereby authorized to use its line of credit to meet cash flow needs for operations at any time during the year and to provide cash to the Virginia Lottery Fund to meet the required transfer of estimated lottery profits to the Lottery Proceeds Fund, as specified in provisions of § 3-1.01G. of this act. The Virginia Lottery shall repay the line of credit as actual cash flows become available. The Secretary of Finance is authorized to increase the line of credit to the Virginia Lottery if necessary to meet operating needs.
f. The State Comptroller is hereby authorized to provide a line of credit of up to $5,000,000 to the Department of Military Affairs to cover the actual costs of responding to State Active Duty. The line of credit will be repaid as the Department of Military Affairs is reimbursed from federal or other funds, other than Department of Military Affairs funds.
g. The Department of Human Resource Management shall repay the local health insurance option program's initial start-up costs, funded through the line of credit authorized in Chapter 836, 2017 Acts of Assembly, in fiscal years 2017 and 2018, over a period not to exceed ten years from the health insurance premiums paid by the local health insurance option program's participants.
h. The Department of Conservation and Recreation may utilize the line of credit authorized in paragraph a. to continue the development of the coastal master plan, including use of a consultant to assist in the plan's development. Any funds spent from the line of credit for this purpose shall be repaid from revenues generated by the Commonwealth's participation in the sale of allowances through the Regional Greenhouse Gas Initiative and deposited to the Virginia Community Flood Preparedness Fund pursuant to § 10.1-603.25, Code of Virginia.
i. The line of credit authorized in paragraph a. for the Virginia Department of Emergency Management, for Next Generation 911 service shall be provided to the 911 Services Board as a temporary cash flow advance. Funds received from the line of credit shall be used only to support implementation of next generation 911 service and shall be distributed in a manner consistent with § 56-484.17 (D), Code of Virginia. The request for the line of credit shall be prepared in the formats as approved by the Secretary of Finance and the Secretary of Public Safety and Homeland Security. The Secretary of Finance and the Secretary of Public Safety and Homeland Security shall approve drawdowns from the Virginia Department of Emergency Management's Next Generation 911 line of credit prior to the expenditure of funds.