Source: https://budget.lis.virginia.gov/item/2006/1/HB29/Introduced/2/0/
Timestamp: 2020-08-11 16:46:26
Document Index: 361197163

Matched Legal Cases: ['art 2', '§ 4', 'art 1', '§ 2', '§ 2', '§ 2', '§ 23', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 2']

General Conditions HB29 - Introduced
2. The Director of the Department of Planning and Budget may transfer appropriations listed in Part 2 of this act from the second year to the first year in accordance with § 4-1.03 a 5 of this act.
E.1. Expenditures from Items in this act identified as "Maintenance Reserve" are to be made only for the maintenance of property, plant and equipment to the extent that funds included in the appropriation to the agency for this purpose in Part 1 of this act are insufficient.
2. Institutions of higher education can expend up to $1,000,000 for a single repair or project through the maintenance reserve appropriation without a separate appropriation. Such expenditures shall be subject to rules and regulations prescribed by the Governor. To the extent an institution of higher education has identified a potential project that exceeds this threshold, the Director of the Department of Planning and Budget can provide exemptions to the threshold as long as the project still meets the definition of a maintenance reserve project as defined by the Department of Planning and Budget.
1. The General Assembly hereby authorizes the capital projects listed in §§ 2-46 and 2-47 for the indicated agencies and institutions of higher education and hereby appropriates and reappropriates therefor sums from the sources and in the amount indicated. The issuance of bonds in a principal amount plus amounts needed to fund issuance costs, reserve funds, and other financing expenses, including capitalized interest for any project listed in §§ 2-46 and 2-47 is hereby authorized.
2. The issuance of bonds for any project listed in § 2-46 is to be separately authorized pursuant to Article X, Section 9 (c), Constitution of Virginia.
3. The issuance of bonds for any project listed in Item C-197 or C-199 shall be authorized pursuant to § 23-19, Code of Virginia.
4. In the event that the cost of any capital project listed in §§ 2-46 and 2-47 shall exceed the amount appropriated therefor, the Director, Department of Planning and Budget, is hereby authorized, upon request of the affected institution, to approve an increase in appropriation authority of not more than ten percent of the amount designated in §§ 2-46 and 2-47 for such project, from any available nongeneral fund revenues, provided that such increase shall not constitute an increase in debt issuance authorization for such capital project. Furthermore, the Director, Department of Planning and Budget, is hereby authorized to approve the expenditure of all interest earnings derived from the investment of bond proceeds in addition to the amount designated in §§ 2-46 and 2-47 for such capital project.
7. In the event that the Treasury Board determines not to finance all or any portion of any project listed in Item C-197 of § 2-46 of this act with the issuance of bonds pursuant to Article X, Section 9 (c), Constitution of Virginia, and notwithstanding any provision of law to the contrary, this act shall constitute the approval of the General Assembly to finance all or such portion of any project listed in Item C-199 under the authorization of § 2-47 of this act.
1. The appropriations unexpended at the close of the previous biennium in the appropriations and reappropriations in Items C-149 through C-151 made by Chapter 1042, Acts of Assembly of 2003, and
2. The appropriations unexpended at the close of the previous biennium of any amount transferred from Items C-149 through C-151 to any capital project established by authority of the Governor which conforms to the conditions in paragraph H below.
I. On or before June 30, 2005, the State Comptroller shall revert the following appropriation amount from the agency, fund code, and project code listed:
J. The Department of Planning and Budget is hereby authorized to administratively appropriate any nongeneral fund component of any capital project authorized in Chapters 859/827 (2002), Chapters 884/854 (2002), or Chapters 887/855 (2002) .
K. For the 2004-2006 biennium, funding of Capital Projects shall be as included in this act rather than as specified in § 2.2-1509.1.
L. Conditions Applicable to Alternative Financing
M. Conditions Applicable to Alternative Financing
1. The following authorizations to construct, purchase, lease or exchange a capital asset by means of an alternative financing mechanism, such as the Public Private Education Infrastructure Act, or similar statutory authority, are continued until revoked:
Item C-24.30
Item C-25.05
Item C-28.30
Item C-28.35
Item C-30.10
Item C-96.10
Item C-102
N. Conditions Applicable to Alternative Financing
O. The budget bill submitted by the Governor for the 2006-2008 biennium shall include the authority under which each capital project is included, as is done for operating programs. This citation shall include a synopsis of previous appropriations from the General Assembly and authorizations by the Governor.
2006 - 2008 Biennium