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2019 SPECIAL SESSION I

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HB 4022 Virginia Beach Municipal Center; grants for the renovation of Building 2.

Introduced by: Barry D. Knight | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Grants for the renovation of Building 2 of the Virginia Beach Municipal Center. Appropriates $10 million in grants to the City of Virginia Beach from fiscal year 2019 surplus general fund revenues for the costs of planning renovations to and renovating Building 2 of the Virginia Beach Municipal Center. A condition of the grants is that all renovations be made to the same premises upon which Building 2 is currently situated. "Certified surplus general fund revenues" is defined in the bill as general fund revenues deposited in the state treasury for the Commonwealth's fiscal year ending June 30, 2019, that are in excess of the sum of (i) the official general fund revenue forecast for such year, (ii) deposits required to the Revenue Stabilization Fund in fiscal year 2020, (iii) deposits required to the Revenue Reserve Fund in fiscal year 2020, (iv) deposits required to the Virginia Water Quality Improvement Fund in fiscal year 2020, and (v) any revenues required to be transferred to the Taxpayer Relief Fund in fiscal year 2020. The State Comptroller is charged with certifying such fiscal year 2019 surplus general fund revenues as soon as practicable.


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