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1997 SESSION

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970150440
HOUSE BILL NO. 2160 House Amendments in [ ] -- January 29, 1997 A BILL to amend and reenact § 22.1-147 of the Code of Virginia, relating to certain loans from the Literary Fund. ----------
Patrons-- Rollison, Brickley, Marshall and Parrish; Senators: Barry, Chichester and Colgan
---------- Referred to Committee on Education ----------

Be 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 may impose a maximum limit of not more than five [ ten seven and one-half ] million dollars on the amount of any loan from the Literary Fund.