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2004 Session

Budget Bill - HB29 (Introduced)

Item 3-2.03

Item 3-2.03 (Not set out)

§ 3-2.03 LINES OF CREDIT


a. The State Comptroller shall provide lines of credit to the following agencies, not to exceed the amounts shown:


State Lottery Department

$25,000,000

Department of Alcoholic Beverage Control

$30,000,000

Department of Emergency Management

$150,000

Department of the Treasury, for the Unclaimed Property Trust Fund

$5,000,000

Department of Corrections, for Virginia Correctional Enterprises

$1,000,000

Department of the Treasury for the State Insurance Reserve Trust Fund

$15,000,000

Department of the Treasury, for the Teacher Liability Insurance Program

$1,000,000

Administration of Health Insurance

$25,000,000

Department of Human Resource Management, for the Workers' Compensation Self Insurance Trust Fund

$10,000,000


b. The State Comptroller shall execute an agreement with each agency documenting the procedures for the line of credit, including, but not limited to, applicable interest and the method for the drawdown of funds. The provisions of § 4-3.02 b of this act shall not apply to these lines of credit.


c. The State Comptroller shall provide a line of credit to the Department of Environmental Quality not to exceed $2,000,000. Access to these funds shall be made according to the restrictions and specifications set out in Title 10.1, Chapter 25 of the Code of Virginia.