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2023 Session

Budget Amendments - HB1400 (Committee Approved)

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Update Contingent Spending Table (language only)

Item 485 #2h

Item 485 #2h

Central Appropriations
Central Appropriations

Language

Page 579, line 30, after "T." insert "and U."

Page 579, strike lines 31 through 34.

Page 579, line 35, strike "$300,000,000" and insert "$148,500,000".

Page 579, strike lines 39 through 48, and insert:

                                    

                                                                        

"Priority

Agency

Item

1. Reduction in the top marginal individual income tax rate from 5.75% to 5.5% beginning in taxable year 2024

Department of Taxation

Enactment 22

2. Additional funding for the Virginia Business Ready Sites Acquisition Fund

Economic Development Incentive Payments

Item 113, Par. U.

3. Additional funding for the Virginia Business Ready Sites Program Fund

Economic Development Incentive Payments

Item 113, Par. T.

4. Capital Cost Overruns

Central Capital Outlay

Item C-79.50 Par. A.2.b."



Explanation

(This amendment updates the contingent spending table in House Bill 1400 to reflect the distribution of these funds.)