§ 2.2-2762 — Virginia Business Ready Sites Acquisition Fund

Virginia § 2.2-2762

• Jurisdiction: Virginia
• Title 2.2: Administration of Government
• Subtitle I: Organization of State Government
• Ch. 27.2: Virginia Business Ready Sites Acquisition Fund and Program
• Part D: State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies

Text

There is hereby created in the state treasury a special nonreverting fund to be known as the Virginia Business Ready Sites Acquisition Fund, referred to in this section as "the Fund." The Fund shall be established on the books of the Comptroller. All moneys appropriated by the General Assembly for the Fund, and from any other sources, public or private, shall be paid into the state treasury and credited to the Fund. Interest earned on moneys in the Fund shall remain in the Fund and be credited to it. Any moneys remaining in the Fund, including interest thereon, at the end of each fiscal year shall not revert to the general fund but shall remain in the Fund. Moneys in the Fund shall be used solely for the purposes of this chapter, which may include administrative costs for due diligence, site acquisition activities, or site development activities, as those terms are defined in § 2.2-2760. Expenditures and disbursements from the Fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Director of the Department, pursuant to subdivision B 2 of § 2.2-2761, or the Authority, pursuant to subdivision B 1 or 3 of § 2.2-2761.

Legislative History

2023, c. 779.