Virginia Resources Authority; short-term loans to planning district commissions. (SB503)
Introduced By
Sen. Lynwood Lewis (D-Accomac)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Resources Authority; short-term loans to planning district commissions. Provides that the Virginia Resources Authority (VRA) shall have the power to establish a perpetual and permanent revolving fund with any funds appropriated by the General Assembly to the VRA for the purpose of making short-term loans to any planning district commission. Under the bill, loans are made for the purpose of providing short-term cash flow necessary for state and federal grants that require the expenditure of funds prior to requesting reimbursement by the planning district commission. Such loans shall be deemed in the public interest, and the loan interest rates charged by the VRA shall be set based on guidelines established for the administration of loan funds and based on prevailing short-term interest rates, according to the bill. Read the Bill »
Outcome
History
| Date | Action |
|---|---|
| 01/12/2022 | Prefiled and ordered printed; offered 01/12/22 22103969D |
| 01/12/2022 | Referred to Committee on Local Government |
| 01/26/2022 | Impact statement from DPB (SB503) |
| 01/27/2022 | Impact statement from DPB (SB503) |
| 01/31/2022 | Senate committee, floor amendments and substitutes offered |
| 01/31/2022 | Reported from Local Government with substitute (14-Y 0-N 1-A) (see vote tally) |
| 01/31/2022 | Committee substitute printed 22105580D-S1 |
| 01/31/2022 | Rereferred to Finance and Appropriations |
| 02/02/2022 | Impact statement from DPB (SB503S1) |
| 02/08/2022 | Stricken at request of Patron in Finance and Appropriations (15-Y 1-N) (see vote tally) |
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