FLOOR AMENDMENT (COLGAN) AGREED TO BY SENATE

1. Page 4, substitute, line 17, after § 1.

strike

remainder of line 17 and all of lines 18 through 53

insert

Any theme park or other tourist-related or recreational facility (hereinafter referred to as "theme park operator") which was the subject of a state-sponsored economic development effort and which included as a part of such effort, a debt authorization of $30,000,000 or more for transportation-related improvements shall be subject to a cost reimbursement requirement, as more particularly described herein, as a precondition for the issuance of any such bonds.

The cost reimbursement requirement shall be an annual contribution to the Commonwealth in an amount equal to one-half the debt service on any debt issued to finance transportation-related improvements. The theme park operator's obligation to make such annual contribution shall be evidenced by a written agreement, executed by such operator, and such obligation to reimburse the Commonwealth shall continue over the term of the bonds and for as long as any such notes, bonds, or other evidences of indebtedness remain outstanding. Remittances to the Commonwealth pursuant to this section shall be credited to the Interstate 66 Economic Development Program Fund.

§ 2. The Interstate 66 Economic Development Program Fund shall be maintained in the Department of the Treasury as a special nonreverting fund and shall also include such other funds as may be appropriated by the General Assembly from time to time, and all interest, dividends, and appreciation which may accrue thereto. Any moneys remaining in the Fund at the end of the biennium shall not revert to the general fund but shall remain in the Fund.