2006 Special Session I

Budget Bill - HB5001 (Introduced)

Item 3-2.03

Item 3-2.03


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

State Lottery Department


Department of Alcoholic Beverage Control


Department of Emergency Management


Department of the Treasury, for the Unclaimed Property Trust Fund


Department of Corrections, for Virginia Correctional Enterprises


Department of the Treasury for the State Insurance Reserve Trust Fund


Department of the Treasury, for the Teacher Liability Insurance Program


Administration of Health Insurance


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


Department of Environmental Quality


Department of Motor Vehicles


Department of General Services for the Real Estate Internal Service Fund


Virginia Tobacco Settlement Foundation


Department of Mental Health, Mental Retardation and Substance Abuse Services


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.