WQIF-Eligible Wastewater Treatment Plant Upgrades
Item C-53.50 #1h
Item C-53.50 #1h | First Year - FY2025 | Second Year - FY2026 | |
| Natural and Historic Resources |
| Department of Environmental Quality | FY2025 $0 | FY2026 $200,000,000 | GF |
| FY2025 $200,000,000 | FY2026 $0 | NGF |
Language
Page 558, after line 34, insert:
| "C-53.50 Improvements: Wastewater Treatments Upgrades | $200,000,000 | $200,000,000 | |
Fund Sources:
General
Bond Proceeds
|
$0
$200,000,000
|
$200,000,000
$0
" | |
A.1. Out of this appropriation, $200,000,000 the first year from nongeneral fund bond proceeds and $200,000,000 the second year from the general fund is authorized for transfer to the Department of Environmental Quality to make matching grants for Water Quality Improvement Fund eligible wastewater projects for Chesapeake Bay nutrient reductions authorized under Code of Virginia §§ 10.1-1186.01.F., 10.1-2131.C., and 62.1- 44.19:14.G.1.
2. The Virginia Public Building Authority pursuant to § 2.2-2260 et seq., Code of Virginia, is hereby authorized to issue bonds in a principal amount not to exceed $200,000,000 the first year plus amounts needed to fund issuance costs, reserve funds, original issue discount, interest prior to and during the acquisition or construction and for one year after completion thereof, and other financing expenses, in accordance with § 2.2-2263, Code of Virginia, to be provided to the Department of Environmental Quality to make matching grants for Water Quality Improvement Fund eligible wastewater projects for Chesapeake Bay nutrient reduction authorized under Code of Virginia §§ 10.1-1186.01.F., 10.1-2131.C., and 62.1- 44.19:14.G.1.
3. Debt service on the bonds issued under the authorization in this item shall be provided from appropriations to the Treasury Board."
Explanation
(This amendment authorizes $200.0 million the first year in bond proceeds and $200.0 million the second year from the general fund for expenses related to wastewater projects for Chesapeake Bay nutrient reduction. The bonds authorized in the first year, to be issued by the Virginia Public Building Authority (VPBA), would be repaid by future appropriations made to fund debt service payments.)