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1998 Session

Budget Bill - HB30 (Introduced)

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Department of Business Assistance

Item 95

Item 95

First Year - FY1999Second Year - FY2000
Industrial Development Services (53400)$19,878,830$19,798,631
Community and Business Assistance (53401)FY1999 $4,612,094FY2000 $4,621,473
Industrial Employee Training (53403)FY1999 $13,472,728FY2000 $13,479,141
Other Services (53499)FY1999 $1,794,008FY2000 $1,698,017
Fund Sources:  
GeneralFY1999 $17,752,009FY2000 $17,671,810
SpecialFY1999 $315,750FY2000 $315,750
Dedicated Special RevenueFY1999 $175,000FY2000 $175,000
Federal TrustFY1999 $1,636,071FY2000 $1,636,071

Authority: Title 2.1, Chapter 32.2 and Title 9, Chapter 28, Code of Virginia, and Discretionary Inclusion.


A. The Virginia Small Business Financing Authority is authorized to withdraw revenues of up to $75,000 the first year and $75,000 the second year from the accrued interest balances of the Virginia Export Loan Guarantee Fund and the Virginia Small Business Growth Fund in order to cover the costs for administering these programs.


B. Out of the amounts for Industrial Development Services shall be provided $250,000 the first year and $250,000 the second year from the general fund to further capitalize the Virginia Small Business Growth Fund within the Virginia Small Business Financing Authority.


C. Out of the amounts for Industrial Development Services shall be provided $100,000 the first year from the general fund to the Greater Richmond Chapter of the American Red Cross for the National Red Cross Convention to be held in Richmond in May 1999.


D. Out of the amounts for Industrial Development Services shall be provided $150,000 the first year and $150,000 the second year from the general fund to the Virginia-Israel Advisory Board.