SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1994 SESSION
HB 1294 Haymarket Transportation Program.
Introduced by: Harry J. Parrish | all patrons ... notes | add to my profiles
SUMMARY:
Bond issue. Authorizes $49.1 million of 9(d) debt for the Haymarket Transportation Program, the transportation improvements related to the Disney's America project. It is anticipated the bonds will be 20-year bonds when proposed would have had a level debt service of $3.8 million annually. State sales and use tax collections within the Disney's America theme park will pay the debt service; however, beginning in the first full calendar year of operation of Disney's America, Disney's America guarantees sales and use tax receipts of $3.8 million annually for the life of the bonds. If less than $3.8 million is collected from the state sales and use tax within Disney's America theme park, Disney will make up the difference by paying such amount to the Haymarket Transportation Program Fund. To account for sales tax paid on all construction material, etc., used in the construction of Disney's America, Disney's America will receive a credit for such debt service equal to two years of debt service which can be used anytime during the first five years of operation of the park. After such period of time, any such unused credit shall expire. After such five year period, if state sales and use tax collections within the confines of Disney's America is less than $3.8 million, Disney can use excess collections for the next three years, with no interest, to offset such shortfall.
Prior to financing this bond issue, the following must occur: (i) rezoning of an area of at least 2,000 acres which includes a theme park for a project which proffers a capital investment of at least $400 million (ii) Walt Disney Company must maintain a net worth of at least $1 billion. If net worth drops below such amount, a surety bond is required; and (iii) the guarantee for the $3.8 million continues to be between the Commonwealth and the corporate parent (Walt Disney Company).
The $10.4 million for signage (in the four years during the 1994-96 and 1996-98 bienniums) shall be paid from the following: (i) Prince William County's secondary road funds; (ii) payment agreement between Prince William County and the Commonwealth Transportation Board; (iii) excess bond proceeds, if any; and (iv) Northern Virginia Transportation District road funds.
Walt Disney Company will provide land at no cost for a state built and operated visitors center located at the main gate to Disney's America. There is guaranteed access to the public at no charge. The Commonwealth shall provide dedicated workforce training of $600,000 annually, subject to appropriation, and will be made available for fiscal years 1997-98, 1998-99, and 1999-2000, and participation in statewide programs thereafter. A cooperative advertising program of $13 million, subject to appropriation, shall be established for the 1996-98 biennium with a 50/50 match, to be administered by the Virginia Department of Economic Development, Division of Tourism. An industry-wide cooperative advertising program shall be available under House Bill No. 1291 of the 1994 Session. The written agreement between the Commonwealth and the Walt Disney Company shall be signed by the Auditor of Public Accounts and the terms of such agreement shall be reported to the Speaker of the House, the President Pro Tempore of the Senate, and the three money committee chairmen prior to execution.
FULL TEXT
- 01/25/94 House: Presented and ordered printed pdf
- 02/12/94 House: Committee substitute printed LD7178168 (HB1294H1) pdf
- 02/15/94 House: Printed as engrossed LD7178168 (HB1294EH1) pdf
- 02/22/94 Senate: Committee substitute printed LD7208605 (HB1294S1) pdf
- 03/14/94 House: Conference substitute printed LD9138176 (HB1294H2) pdf
- 03/24/94 House: Bill text as passed House and Senate (HB1294ER) pdf
- 04/14/94 Governor: Acts of Assembly Chapter text (CHAP0589) pdf
AMENDMENTS
HISTORY
- 01/25/94 House: Presented and ordered printed
- 01/25/94 House: Referred to Committee on Appropriations
- 02/12/94 House: Reported from Appropriations with sub. (15-Y 7-N)
- 02/12/94 House: Committee substitute printed LD7178168 (HB1294H1)
- 02/13/94 House: Read first time
- 02/14/94 House: Passed by for the day
- 02/15/94 House: Constitutional reading dispensed
- 02/15/94 House: Committee substitute agreed to
- 02/15/94 House: Motion for pending question agreed to
- 02/15/94 House: Amendment by Del. Jackson rejected (49-Y 49-N)
- 02/15/94 House: VOTE: REJECTED (49-Y 49-N)
- 02/15/94 House: Amendments by Del. Scott rejected (43-Y 53-N)
- 02/15/94 House: VOTE: REJECTED (43-Y 53-N)
- 02/15/94 House: Amendment by Del. Jackson reconsidered (49-Y 47-N)
- 02/15/94 House: VOTE: RECONSIDERATION (49-Y 47-N)
- 02/15/94 House: Motion for pending question agreed to
- 02/15/94 House: Amendment by Del. Jackson agreed to (50-Y 48-N)
- 02/15/94 House: VOTE: ADOPTION (50-Y 48-N)
- 02/15/94 House: Amendments by Del. Councill agreed to
- 02/15/94 House: Amendments by Del. Mims agreed to
- 02/15/94 House: Amendment by Del. Robinson agreed to
- 02/15/94 House: Engrossed by House-committee substitute with amds.
- 02/15/94 House: Read third time and passed House (92-Y 6-N)
- 02/15/94 House: VOTE: PASSAGE (92-Y 6-N)
- 02/15/94 House: Communicated to Senate
- 02/15/94 House: Printed as engrossed LD7178168 (HB1294EH1)
- 02/17/94 Senate: Read first time
- 02/17/94 Senate: Referred to Committee on Finance
- 02/22/94 Senate: Reported from Finance with substitute (13-Y 1-N)
- 02/22/94 Senate: Committee substitute printed LD7208605 (HB1294S1)
- 02/23/94 Senate: Constitutional reading dispensed (38-Y 0-N)
- 02/23/94 Senate: VOTE: CONST. READING DISPENSED (38-Y 0-N)
- 02/24/94 Senate: Read third time
- 02/24/94 Senate: Reading of substitute waived
- 02/24/94 Senate: Committee substitute agreed to
- 02/24/94 Senate: Engrossed by Senate - committee substitute
- 02/24/94 Senate: Passed Senate with substitute (37-Y 3-N)
- 02/24/94 Senate: VOTE: PASSAGE (37-Y 3-N)
- 02/25/94 House: Placed on Calendar
- 02/28/94 House: Senate substitute rejected by House (2-Y 94-N)
- 02/28/94 House: VOTE: REJECTED (2-Y 94-N)
- 03/02/94 Senate: Senate insisted on substitute (40-Y 0-N)
- 03/02/94 Senate: Senate requested conference committee
- 03/02/94 Senate: VOTE: INSIST & REQUEST (40-Y 0-N)
- 03/03/94 House: House acceded to request
- 03/03/94 House: Conferees appointed by House
- 03/03/94 House: Delegates: Cranwell, Jackson, Miller
- 03/04/94 Senate: Conferees appointed by Senate
- 03/04/94 Senate: Senators: Colgan, Cross, Chichester
- 03/12/94 Senate: Reading of conference report waived
- 03/12/94 Senate: Conference report agreed to by Senate (35-Y 5-N)
- 03/12/94 Senate: VOTE: ADOPT CONFERENCE REPORT (35-Y 5-N)
- 03/12/94 House: Motion for pending question rejected
- 03/12/94 House: Ruling of the chair sustained (99-Y 1-N)
- 03/12/94 House: VOTE: RULING OF THE CHAIR (99-Y 1-N)
- 03/12/94 House: Motion for pending question agreed to
- 03/12/94 House: Conference report agreed to by House (73-Y 25-N)
- 03/12/94 House: VOTE: ADOPTION (73-Y 25-N)
- 03/12/94 Conference: Senate substitute rejected by conference committee
- 03/12/94 Conference: Substitute recommended by conference committee
- 03/14/94 House: Conference substitute printed LD9138176 (HB1294H2)
- 03/24/94 House: Bill text as passed House and Senate (HB1294ER)
- 04/01/94 House: Enrolled
- 04/02/94 House: Signed by Speaker
- 04/02/94 Senate: Signed by President
- 04/09/94 Governor: Approved by Governor-Chapter 589 (effective 7/1/94)
- 04/14/94 Governor: Acts of Assembly Chapter text (CHAP0589)