VA SB503 | 2022 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2022 - 25% progression, died in chamber
Action: 2022-02-08 - Stricken at request of Patron in Finance and Appropriations (15-Y 1-N)
Text: Latest bill text (Comm Sub) [HTML]

Summary

Virginia Resources Authority; short-term loans to planning district commissions. Provides that the Virginia Resources Authority (VRA) shall have the power to establish a perpetual and permanent revolving fund with any funds appropriated by the General Assembly to the VRA for the purpose of making short-term loans to any planning district commission. Under the bill, loans are made for the purpose of providing short-term cash flow necessary for state and federal grants that require the expenditure of funds prior to requesting reimbursement by the planning district commission. Such loans shall be deemed in the public interest, and the loan interest rates charged by the VRA shall be set based on guidelines established for the administration of loan funds and based on prevailing short-term interest rates, according to the bill.

Tracking Information

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Title

Virginia Resources Authority; short-term loans to planning district commissions.

Sponsors


Roll Calls

2022-02-08 - Senate - Senate: Stricken at request of Patron in Finance and Appropriations (15-Y 1-N) (Y: 15 N: 1 NV: 0 Abs: 0) [PASS]
2022-01-31 - Senate - Senate: Reported from Local Government with substitute (14-Y 0-N 1-A) (Y: 14 N: 0 NV: 1 Abs: 0) [PASS]

History

DateChamberAction
2022-02-08SenateStricken at request of Patron in Finance and Appropriations (15-Y 1-N)
2022-01-31SenateRereferred to Finance and Appropriations
2022-01-31SenateCommittee substitute printed 22105580D-S1
2022-01-31SenateReported from Local Government with substitute (14-Y 0-N 1-A)
2022-01-12SenateReferred to Committee on Local Government
2022-01-12SenatePrefiled and ordered printed; offered 01/12/22 22103969D

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
621218.1(n/a)See Bill Text

Virginia State Sources


Bill Comments

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