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GA Adjustment
Virginia Port Authority (407)
Request Title Adjust language related to Ports debt service cap
Biennium 2016-2018
Budget Round Initial Bill
Half Sheet Number Gov 26
Description

This amendment adds language allowing the Governor to approve the Port Authority to exceed the $45 million debt service cap if the capital lease with the Virginia International Gateway (VIG) Terminal in Portsmouth, Virginia, is executed. The budget has existing language limiting the total amount of debt service paid by the Port Authority to $45 million annually. It is anticipated that the new lease agreement related to the VIG Terminal will result in the agency surpassing the $45 million cap. Chapter 665, 2015 Acts of Assembly, allows the Port Authority to enter into a new lease agreement related to the VIG Terminal.

Funding Details
By Program Program Code Program Title FY 2016 FY 2017
By Fund Fund Code Fund Title FY 2016 FY 2017
Authorized Position Details
By Program Program Code Program Title FY 2016 FY 2017


p3_opview - Official Enacted Budget View Operating Bullet Details - 06-06-2025 13:20:07