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2022 Special Session I

Budget Amendments - HB29 (Conference Report)

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Fund Remaining Rebuild Virginia Applications

Item 479.20 #4c

Item 479.20 #4c

First Year - FY2021 Second Year - FY2022
Central Appropriations
Central Appropriations FY2021 $0 FY2022 $130,000,000 NGF

Language
Page 256, line 48, strike "$9,094,043,771" and insert "$9,224,043,771".

Page 257, line 18, strike "3,179,200,801" and insert "3,309,200,801".

Page 258, line 23, after "awarded." strike the remainder of the line.

Page 258, strike lines 24 through 31.

Page 258, after line 31, insert:

"2) $130,000,000 to the Department of Small Business and Supplier Diversity (350) for the Rebuild Virginia program. These funds shall be used to provide business assistance to qualifying applications received by the department on or before June 30, 2021, for which a grant has not been awarded. The Director of the Department of Planning and Budget shall distribute funds to the department for this purpose within 10 days of the passage of this act.

3) Any funds remaining at the end of the fiscal year shall be carried forward into the next fiscal year by the department for the purposes described in these  paragraphs 1) and 2) of c. Rebuild VA. The department shall remit any unused funds provided in this paragraph for Rebuild Virginia applications received by the department on or before June 30, 2021 to the State Treasurer for deposit into the State and Local Recovery Fund on or before June 30, 2023."  



Explanation

(This amendment provides $130.0 million in federal American Rescue Plan Act funds for the Rebuild Virginia program. The Department of Small Business and Supplier Diversity closed the program's application portal in November of 2020. These funds should support all remaining eligible applications in the pipeline for Rebuild Virginia business assistance funds.)