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2008 SESSION

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HB 474 Virginia War Memorial; State Treasurer to advance loan for construction of an educational wing.

Introduced by: M. Kirkland Cox | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Virginia War Memorial.  Requires the State Comptroller to advance a loan of $5.97 million for the state share of the construction of an educational wing for the Virginia War Memorial and the expansion of the Shrine of Memory to include Virginians killed in action in the War on Terror, in the form of a short-term treasury loan, with no interest, upon certification by the Governor or his desginee that $2 million in private funds have been raised, pledged, or expended to support the projects. The State Comptroller shall advance $500,000 of the $5.97 million upon certification that $1 million in private funds have been raised, pledged, or expended for the educational wing.

SUMMARY AS PASSED HOUSE:

Virginia War Memorial.  Requires the State Comptroller to advance a loan of $5.97 million for the state share of the construction of an educational wing for the Virginia War Memorial and the expansion of the Shrine of Memory to include Virginians killed in action in the War on Terror, in the form of a short-term treasury loan, with no interest, upon certification by the Governor or his desginee that $2 million in private funds have been raised, pledged, or expended to support the projects. The State Treasurer shall advance $500,000 of the $5.97 million upon certification that $1 million in private funds have been raised, pledged, or expended for the educational wing.

SUMMARY AS INTRODUCED:

Virginia War Memorial.  Requires the State Treasurer to advance a loan of $5.97 million to the Department of General Services for the state share of the construction of an educational wing for the Virginia War Memorial and the expansion of the shrine of memory for War on Terror Virginians killed in action, in the form of a short-term treasury loan, with no interest, upon certification by the Secretary of Administration that (i) $2 million in private funds have been raised, (ii) the funds are available or have been expended, and (iii) the funds were or will be used to support the projects. The State Treasurer shall advance $500,000 of the $5.97 million upon certification that $1 million in private funds have been raised or expended for the educational wing.