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2005 SESSION

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051485228
HOUSE BILL NO. 2569 Offered January 12, 2005 Prefiled January 12, 2005 A BILL to amend the Code of Virginia by adding a section numbered 2.2-115.1, relating to the Defense Infrastructure Grant Fund. ---------- Patron-- Baskerville ---------- Referred to Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 2.2-115.1 as follows:

§ 2.2-115.1. Defense Infrastructure Grant Fund.

A. There is hereby created in the state treasury a special nonreverting fund to be known as the Defense Infrastructure Grant Fund, hereafter referred to as “the Fund.” The Fund shall be used by the Governor to support local and regional infrastructure projects deemed to have a positive impact on the military value of installations within the State. The Fund shall be established on the books of the Comptroller. The Fund shall consist of any funds appropriated to it by the general appropriation act and revenue from any other source, public or private. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. The Governor shall report to the chairmen of the House Committees on Appropriations and Finance and the Senate Committee on Finance as funds are awarded in accordance with this section.

B. Moneys in the Fund shall be used solely for the purposes of supporting infrastructure projects that benefit both the economy or residents of the region and military bases, installations or families located in the region.  Infrastructure projects eligible for funding shall include but not be limited to those relating to encroachment, transportation and access, utilities, communications, housing, schools, environment, and security. Moneys in the Fund shall not be used to fund on-base military construction projects.

C. Funds shall be awarded from the Fund by the Governor for specific projects as grants to political subdivisions having the authority to maintain the project upon its completion. The Governor may require the political subdivision to match the amount of the grant to be provided. The Governor shall provide grants from the Fund only in an amount not to exceed the dollar amount contained in the Fund.

D. The Virginia Economic Development Partnership shall assist the Governor in developing objective guidelines and criteria that shall be used in awarding grants from the Fund.