| • |
| Central Maintenance Reserve Allocations |
|
| |
Provides funding to be distributed to agencies and institutions of higher education to address maintenance needs in state-owned facilities. |
| |
| |
FY 2025 |
FY 2026 |
| General Fund |
$404,000,000 |
$0 |
|
| • |
| Additional funding for capital supplement pool |
|
| |
Provides additional funding in the central capital supplement pool in order to address shortfalls for previously authorized projects due to current market conditions. |
| |
| |
FY 2025 |
FY 2026 |
| General Fund |
$250,000,000 |
$0 |
|
| • |
| Provide funding for Central Reserve for Capital Equipment |
|
| |
Provides funding to be disbursed to agencies and institutions of higher education for equipment purchases related to previously authorized capital projects. |
| |
| |
FY 2025 |
FY 2026 |
| General Fund |
$81,341,000 |
$0 |
|
| • |
| Provide 2024 Public Educational Institution Construction Pool funding |
|
| |
Provides funding for the construction of a variety of capital projects at institutions of higher education. Funding for multiple projects is pooled together centrally and subject to the capital pool process in Section 2.2-1515 et. seq, Code of Virginia. |
| |
| |
FY 2025 |
FY 2026 |
| Nongeneral Fund |
$9,555,240 |
$0 |
| Tax Supported Debt |
$70,527,745 |
$0 |
|
| • |
| Provide additional funding for 2022 state agency capital pool |
|
| |
Provides additional funding for the 2022 State Agency Construction pool and provides that the Virginia State Police Training Academy shall be limited to total state funding of no more than $100.0 million and may adjust the size and scope of the project to accommodate the funding limitations. |
| |
| |
FY 2025 |
FY 2026 |
| Tax Supported Debt |
$50,000,000 |
$0 |
|
| • |
| Provide 2024 State Agency Capital Account funding |
|
| |
Provides funding for the construction of a variety of capital projects for state agencies. Funding for multiple projects is pooled together centrally and subject to the capital pool process in Section 2.2-1515 et. seq, Code of Virginia. This pool includes projects for agencies other than institutions of higher education. |
| |
| |
FY 2025 |
FY 2026 |
| Tax Supported Debt |
$42,910,836 |
$0 |
|
| • |
|
| |
Authorizes three projects for planning, including a renovation of the Library of Virginia, renovation of Darden Hall at the University of Virginia's College at Wise, and a child and adolescent psychiatric treatment facility. |
| |
| |
FY 2025 |
FY 2026 |
| General Fund |
$24,000,000 |
$0 |
| Nongeneral Fund |
$2,623,000 |
$0 |
|
| • |
| Provide funding for workforce development projects |
|
| |
Provides funding to support capital investment associated with bolstering technology-related education to address workforce needs. |
| |
| |
FY 2025 |
FY 2026 |
| General Fund |
$22,153,969 |
$0 |
|
| • |
| Adjust language authorizing transfer of bonds between capital pools |
|
| |
Clarifies that bond authorization and appropriation may be transferred between the Virginia College Building Authority and the Virginia Public Building Authority as part of the existing authority to transfer appropriation between capital construction pools in Section 2-0. |
| • |
| Adjust submission requirements for the Six-Year Capital Outlay Plan Report |
|
| |
Language in Item 2-0 allows the Six-Year Capital Outlay Plan to be submitted as a report to the General Assembly instead of as legislation submitted by the Governor, as is currently required by law. |
| • |
| Six-Year Capital Outlay Plan Advisory Committee Meeting Requirements |
|
| |
Language in Item 2-0 provides flexibility for the timing of Six-Year Capital Outlay Plan Advisory Committee meetings. Language requires the Committee to meet at least four times annually instead of quarterly. |
| • |
| Capital Funding Framework |
|
| |
Provides language in Section 4-4.02 establishing state capital funding policies. Policies provide that annual general fund-supported capital appropriation amounts shall not exceed one percent of general fund revenue plus debt capacity and any prior-year general fund appropriation balances that were not reappropriated. At least one percent of general fund revenue shall be targeted to address maintenance needs of existing state facilities. Additionally, institutions of higher education with Tier III operational authority shall fund 25 percent of new construction, major renovations, and acquisition project costs in support of their Educational and General Programs from their own nongeneral fund resources, with exceptions for several institutions with limited nongeneral fund revenues. |
| • |
| Reassess projects that have not proceeded with construction within five years |
|
| |
Language in Item 2-0 requires the Six-Year Capital Outlay Plan Advisory Committee to reevaluate capital projects that have not proceeded to construction five years after being initially authorized and to recommend whether such projects should remain authorized or be rescinded as specified in the Appropriation Act. |
| • |
| Lease and Financed Purchase Authorizations |
|
| |
Provides language authorizing numerous lease and financed purchase agreements in Item C-54. Language in Section 4-3.03 is also provided to clarify the criteria for lease and financed purchase agreements that require approval in the Appropriation Act and to allow the Governor to authorize agreements in instances where the nongeneral fund share of lease obligations does not exceed expected nongeneral fund revenues and the general fund share of annual lease obligations does not result in the agency exceeding its current available annual general fund appropriation. |
| • |
| Exempt Six-Year Capital Outlay Plan Advisory Committee communications from Freedom of Information Act |
|
| |
Language in Item 2-0 exempts written communications among Six-Year Capital Outlay Plan Advisory Committee members and their staff from the Virginia Freedom of Information Act. |
| • |
| Redirect balances from completed or cancelled standalone projects |
|
| |
Redirects remaining appropriation balances from completed or cancelled projects to capital construction pools where expected funding needs exceed available funding. |
