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2006 Session

Budget Bill - SB29 (Introduced)

Item 3-2.03

Item 3-2.03

§ 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

$40,000,000

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

Department of Environmental Quality

$5,000,000

Department of Motor Vehicles

$5,000,000

Department of General Services for the Real Estate Internal Service Fund

$2,100,000

Virginia Tobacco Settlement Foundation

$3,000,000

Department of Mental Health, Mental Retardation and Substance Abuse Services

$20,000,000


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 Department of Emergency Management shall certify to the Secretary of Finance the reimbursable expenses of state agencies for Hurricanes Katrina, Rita, and Wilma, and Fort Pickett preparations and operations.  Upon approval by the Secretary of Finance, the State Comptroller shall provide state agencies treasury loans for amounts needed to pay these expenses.  These loans shall be in anticipation of revenue reimbursements from the Federal Emergency Management Agency (FEMA) and from states impacted by the disasters.