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2024 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Carr
Payment in Lieu of Taxes for New GAB and Capitol Building

Item 71 #1h

Item 71 #1h

First Year - FY2025 Second Year - FY2026
Administration
Department of General Services FY2025 $100,000 FY2026 $100,000 GF

Language
Page 70, line 10, strike "$61,649,076" and insert "$61,749,076".
Page 70, line 10, strike "$55,166,571" and insert "$55,266,571".

Page 71, line 37, strike "$70,000" and insert "$170,000".



Explanation

(This amendment provides $100,000 general fund each year to reflect an increase in the total service charge for payment in lieu of taxes to the City of Richmond for the General Assembly Building and state Capitol Building. This annual amount has not been increased since it was first added in the 2010 General Assembly Session. Accordingly, this amendment updates the service charge with respect to intervening inflationary impacts, as well as property values as impacted by the newly constructed General Assembly facility.)