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1997 SESSION
SJ 288 Constitutional amendment; Literary Fund.
Introduced by: Frederick M. Quayle | all patrons ... notes | add to my profiles
SUMMARY:
Constitutional amendment (first resolution); Literary Fund. Increases from $80 million to $200 million the amount which must be retained in the Literary Fund. The Literary Fund was originally established in 1810 as a statutory mechanism for funding the education of poor children and was added to the Virginia Constitution in 1869. The Fund provides direct loans for new construction, building additions or renovations, interest rate subsidies for projects funded through the Virginia Public School Authority, and moneys for other school purposes, such as teacher retirement and debt service on technology equipment notes. Incorporated in SJR 375.
FULL TEXT
HISTORY
- 01/17/97 Senate: Presented & ordered printed 977481726
- 01/17/97 Senate: Referred to Committee on Privileges and Elections
- 01/29/97 Senate: No action taken by Privileges and Elections
- 01/29/97 Senate: Incorporated in other legislation (SJ375, Earley)