JOINT CONFERENCE COMMITTEE REPORT

We, the conferees, appointed by the respective bodies to consider and report upon the disagreeing vote on Senate Bill No. 774, report as follows:

A. We recommend that the House Amendment be rejected.

B. We recommend that the engrossed bill be amended as follows to resolve the matters under disagreement.

1. Page 3, line 150, at beginning of line

all of lines 150 through 154

2. Page 3, line 155, at beginning of line

strike

C

insert

B

3. Page 3, line 161, at beginning of line

strike

CD

insert

C

4. Page 4, line 162, at beginning of line

strike

DE

insert

D

5. Page 4, line 190, at beginning of line

insert

To the extent permitted by law for local obligations issued after July 1, 2003, local governments may enter into agreements with the Authority that provide for a local government to consider and make appropriations of any funds or revenue generated from the following: (i) taxes, funds and assessments from service districts created under Chapter 24 (§ 15.2-2400 et seq.) of Title 15.2, (ii) funds held by the local government, or (iii) any revenue or funds generated from sources

Respectfully submitted,

Senator Benjamin J. Lambert, III

Senator Emmett W. Hanger, Jr.

Senator Henry L. Marsh, III

Conferees on the part of the Senate

Delegate Michele B. McQuigg

Delegate Bradley P. Marrs

Delegate Robert D. Hull

Conferees on the part of the House