CODE OF VIRGINIA

CERTAIN FUNDS ESTABLISHED (§ 2.2-1520)

A. There is hereby established a special, nonreverting fund in the state
treasury to be known as the Central Capital Planning Fund, hereafter referred to
as the Fund. The Fund shall include such moneys as may be appropriated by the
General Assembly from time to time and designated for the Fund. The Fund shall
be established on the books of the Comptroller and shall be administered by the
Director of the Department of Planning and Budget. Any moneys remaining in the
Fund at the end of each fiscal year shall not revert to the general fund but
shall remain in the Fund. Moneys in the Fund shall be used solely to pay the
pre-planning or detailed planning costs of capital outlay projects that have
been approved for pre-planning or detailed planning by the General Assembly.

B. The State Agency Capital Account shall be established in the general
appropriation act as a separate item for appropriation purposes. The State
Agency Capital Account shall consist of appropriations of the proceeds from the
sale of certain bonds by the Virginia Public Building Authority that are
designated for the Account and any other moneys as may be appropriated by the
General Assembly. The Account shall be administered by the Director of the
Department of Planning and Budget consistent with the provisions of this
chapter. The Account shall be used to finance the construction of projects, as
defined in § 2.2-2260, that have been approved for construction by the General
Assembly. In addition, it is required that the Account reimburse the Central
Capital Planning Fund for payments made for pre-planning or detailed planning of
all such projects that have been approved for construction by the General
Assembly.

C. The Public Educational Institution Capital Account shall be established in
the general appropriation act as a separate item for appropriation purposes. The
Public Educational Institution Capital Account shall consist of appropriations
of the proceeds from the sale of certain bonds by the Virginia College Building
Authority that are designated for the Account and any other moneys as may be
appropriated by the General Assembly. The Account shall be administered by the
Director of the Department of Planning and Budget consistent with the provisions
of this chapter. The Account shall be used to finance the construction of
projects, as defined in § 23-15, that have been approved for construction by
the General Assembly. In addition, it is required that the Account reimburse the
Central Capital Planning Fund for payments made for pre-planning or detailed
planning of all such projects that have been approved for construction by the
General Assembly.

C. The Public Educational Institution Capital Account shall be established in
the general appropriation act as a separate item for appropriation purposes. The
Public Educational Institution Capital Account shall consist of appropriations
of the proceeds from the sale of certain bonds by the Virginia College Building
Authority that are designated for the Account and any other moneys as may be
appropriated by the General Assembly. The Account shall be administered by the
Director of the Department of Planning and Budget consistent with the provisions
of this chapter. The Account shall be used to finance the construction of
projects, as defined in § 23.1-1100, that have been approved for construction
by the General Assembly. In addition, it is required that the Account reimburse
the Central Capital Planning Fund for payments made for pre-planning or detailed
planning of all such projects that have been approved for construction by the
General Assembly.

HISTORY: 2008, Sp. Sess. I, cc. 1, 2.