Source: https://budget.lis.virginia.gov/amendment/2018/2/HB5002/Introduced/FA/473/1h/
Timestamp: 2020-06-05 04:08:44
Document Index: 369376640

Matched Legal Cases: ['§ 3', '§ 3', '§ 3', '§ 3', '§ 3', '§ 32', '§ 32', '§ 3', '§ 3', '§ 32', '§ 58']

473#1h (CA) Coalfield Employment Enhancement Tax Credit. HB5002 - Floor Approved
Bill Order » Item 473 #1h
Coalfield Employment Enhancement Tax Credit (language only)
Item 473 #1h
Page 410, line 20, strike "90 percent of face value for credits earned".
Page 410, line 21, strike "in taxable years beginning on January 1, 2002, and".
Page 410, line 21, strike "for credits".
Page 410, line 22, strike "earned in taxable years beginning on or after January 1, 2002".
Page 410, line 23, strike "10 or".
Page 410, line 23, strike "Coalfields Economic Development Authority" and insert:
"Virginia Coalfield Economic Development Authority".
(This amendment implements the provisions of House Bill 665, 2018 Session of the General Assembly, related to the Coal Employment and Production Incentive Tax Credit and the Coalfield Employment Enhancement Tax Credit.)
Distribution of Tobacco Settlement (74500)
a sum sufficient, estimated at $119,327,905 $119,327,905
Payments to Tobacco Producers and Tobacco Growing Communities (74501) FY2019 $110,000,000 FY2020 $110,000,000
Payments for Tobacco Usage Prevention (74502) FY2019 $9,327,905 FY2020 $9,327,905
Trust and Agency FY2019 $119,327,905 FY2020 $119,327,905
Authority: Title 3.2, Chapters 31, 42 and 46, and Title 32.1, Chapter 14, Code of Virginia.
A.1. There is hereby appropriated a sum sufficient estimated at $110,000,000 the first year and $110,000,000 the second year from nongeneral funds for expenditures of securitized proceeds and earnings up to the amount transferred from the endowment to the Tobacco Indemnification and Community Revitalization Fund in accordance with § 3.2-3104, Code of Virginia. Such expenditures shall be made pursuant to § 3.2-3108, Code of Virginia.
2. From the amount deposited into the Tobacco Indemnification and Community Revitalization Fund pursuant to § 3.2-3106, Code of Virginia, shall be paid 50 percent of the costs associated with the diligent enforcement of the non-participating manufacturer statute of the 1998 Tobacco Master Settlement Agreement, § 3.2-4201, Code of Virginia, and Item 56, Paragraph B of this act. These costs shall be paid pursuant to the transfer to the general fund directed by § 3-1.01, Paragraph N.1, of this act.
B.1. Notwithstanding the provisions of §§ 32.1-354, 32.1-360 and 32.1-361.1, Code of Virginia, the State Comptroller shall deposit 8.5 percent of the Commonwealth's Allocation pursuant to the Master Settlement Agreement with tobacco product manufacturers to the Virginia Tobacco Settlement Fund. There is hereby appropriated a sum sufficient estimated at $9,423,439 the first year and $9,327,905 the second year from available balances in the fund for the purposes set forth in § 32.1-361, Code of Virginia. No less than $1,000,000 the first year and $1,000,000 the second year shall be allocated for obesity prevention activities.
2. From the amount deposited into the Virginia Tobacco Settlement Fund shall be paid 8.5 percent of the costs associated with the diligent enforcement of the non-participating manufacturer statute of the 1998 Tobacco Master Settlement Agreement, § 3.2-4201, Code of Virginia, and Item 56, Paragraph B, of this act. These costs shall be paid pursuant to the transfer to the general fund directed by § 3-1.01, Paragraph N.2, of this act.
3. Beginning November 1, 2010, and each year thereafter, the Director, Virginia Healthy Youth Foundation, shall report to the Chairmen of the House Appropriations and Senate Finance Committees on funding provided to community-based organizations for obesity prevention activities pursuant to § 32.1-355, Code of Virginia.
C. The amounts deposited by the State Comptroller pursuant to paragraph B.1. of this Item shall be included in the general fund revenue calculations for purposes of subsection C of § 58.1-3524, Code of Virginia.