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Item 3-3.03 #1h
General Fund Deposits
Interest EarningsLanguage

Language:
Page 377, strike line 31.
Page 377, strike line 34.
Page 377, strike line 35.
Page 377, strike line 37.

Explanation:
(This amendment eliminates language contained in the introduced budget capturing interest earnings from certain nongeneral funds controlled by the Department of Game and Inland Fisheries. Retention of these funds' interest earnings would have resulted in the loss of $14 million in federal funds used by the agency to support its operations and would have resulted in the agency being disqualified from use of federal funds in the future. The specific funds eliminated from the proposed capture of earned interest include the Game Protection Fund, the Lifetime Hunting and Fishing Endowment Fund, the Virginia Migratory Waterfowl Conservation Stamp Fund, and the Capital Improvement Fund. A companion amendment reduces the transfer of sales taxes on hunting, fishing, and other outdoor equipment to the agency to ensure this action is revenue neutral.)


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