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2007 SESSION
078938285Be it enacted by the General Assembly of Virginia:
1. That § 22.1-147 of the Code of Virginia is amended and reenacted as follows:
§ 22.1-147. Distribution of funds.
The Board of Education shall provide for an equitable
distribution of the funds loaned or provided as loan interest rate subsidy
payments from the Literary Fund among the several school divisions. In
providing for such equitable distribution, the Board shall impose a maximum
limit of not more than $7.5$12
million on the amount of any loan from the Literary Fund.