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2025 Session

Budget Amendments - HB1600 (Member Request)

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Chief Patron: McQuinn
Prioritize Virginia Revitalization Fund Money to Localities with High-Levels of Fiscal Stress

Item 103 #11h

Item 103 #11h

First Year - FY2025 Second Year - FY2026
Commerce and Trade
Department of Housing and Community Development FY2025 $0 FY2026 $4,000,000 GF

Language
Page 111, line 49, strike "$81,477,325" and insert "$85,477,325".

Page 113, line 36, strike "$5,000,000" and insert "$9,000,000".

Page 114, after line 13, insert:

"5. The department shall prioritize funding from the amounts provided in 1. of this paragraph for localities with an above average or high level of fiscal stress based on the Index published by the Commission on Local Government. This criteria shall not apply to designated funding for the cities of Portsmouth, Norfolk, Newport News, Richmond, or Front Royal."



Explanation

(This amendment provides an additional $4.0 million for the Industrial Revitalization Fund. Budget language directs the Department of Housing and Community Development to prioritize this funding for communities experiencing high-levels of fiscal stress as determined by the Commission on Local Government.)