Economic Development Incentive Payments (312)
Request Title | Reverse NGF Appropriation for Aerospace Supplier Cluster Grant |
Biennium | 2016-2018 |
Budget Round | Amended Bill |
Half Sheet Number | 106 #1c |
Description
This amendment reverses the nongeneral fund appropriation of $2.5 million from the Aerospace Engine Manufacturing Supplier Cluster Grant Fund. In order for a qualified manufacturer to receive a payment under the Aerospace Engine Manufacturing Supplier Cluster Bonus Performance Grant Program, Virginia Code provides for the filing of an application with the Secretary of Commerce and Trade between July 1 and August 31, and the subsequent payment of the grant in the following fiscal year. No such application has been received. It is anticipated that funding will be appropriated from the general fund in the next biennium to fund grant payments after a qualified application is received. |
Funding Details
By Program | Program Code | Program Title | FY 2016 | FY 2017 |
534 | Economic Development Services | $0 | ($2,500,000) | |
By Fund | Fund Code | Fund Title | FY 2016 | FY 2017 |
02187 | Aerospace Engine Manufacturing | $0 | ($2,500,000) |
Authorized Position Details
By Program | Program Code | Program Title | FY 2016 | FY 2017 |
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