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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Surovell
CCA: Transfer Funding to the Virginia Cannabis Equity Business Loan Fund

Item 382 #2s

Item 382 #2s

First Year - FY2025 Second Year - FY2026
Public Safety and Homeland Security
Virginia Cannabis Control Authority FY2025 $1,357,228 FY2026 $1,357,228 GF

Language
Page 435, line 50, strike "$5,411,060" and insert "$6,768,288".
Page 435, line 50, strike "$5,411,060" and insert "$6,768,288".

Page 436, after line 17, insert:

"C. Included in these amounts, $1,357,228 the first year and $1,357,228 the second year from the general fund is provided for low-interest and zero-interest loans to assist applicants and licensees, to be distributed by the Authority consistent with existing law."



Explanation

(This amendment provides $1.4 million GF each year for the Virginia Cannabis Equity Business Loan Fund, transferred from the appropriation for the Office of Diversity, Opportunity, and Inclusion if no Director of the Office of Diversity, Equity, and Inclusion in hired by June 1st, 2024.)