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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Surovell
Establishing Virginia Climate Innovation Finance Authority

Item 109 #3s

Item 109 #3s

First Year - FY2025 Second Year - FY2026
Commerce and Trade
Department of Energy FY2025 $20,000,000 FY2026 $20,000,000 GF
FY2025 5.00 FY2026 5.00 FTE

Language
Page 107, line 36, strike "$4,766,189" and insert "$24,766,189".
Page 107, line 36, strike "$4,766,189" and insert "$24,766,189".

Page 108, after line 14, insert:

"E. Out of the amounts in this Item, $20,000,000 the first year and $20,000,000 the second year from the general fund and five positions are provided to establish the Virginia Climate Innovation Authority to finance climate initiatives."



Explanation

(This amendment provides $20.0 million GF each year and five positions to create and fund the “Virginia Climate Innovation Finance Authority” to help finance climate initiatives across Virginia with low-rate financing issued by the U.S. Department of Energy. The authority is a pending Senate Bill under consideration by the 2024 General Assembly Session.)