2006 Code of Virginia § 2.2-2023 - Virginia Technology Infrastructure Fund created; contributions

2.2-2023. Virginia Technology Infrastructure Fund created; contributions.

A. The Virginia Technology Infrastructure Fund (the Fund) is created in thestate treasury. The Fund is to be used to fund major information technologyprojects or to pay private partners as authorized in subsection B of 2.2-2007.

B. The Fund shall consist of: (i) the transfer of general and nongeneral fundappropriations from state agencies which represent savings that accrue fromreductions in the cost of information technology and communication services,(ii) the transfer of general and nongeneral fund appropriations from stateagencies which represent savings from the implementation of informationtechnology enterprise projects, (iii) funds identified pursuant to subsectionB of 2.2-2007, (iv) such general and nongeneral fund fees or surcharges asmay be assessed to agencies for enterprise technology projects, (v) gifts,grants, or donations from public or private sources, and (vi) such otherfunds as may be appropriated by the General Assembly. Savings shall be asidentified by the CIO through a methodology approved by the Board and theSecretary of Finance. The Auditor of Public Accounts shall certify the amountof any savings identified by the CIO. For public institutions of highereducation, however, savings shall consist only of that portion of totalsavings that represent general funds. The State Comptroller is authorized totransfer cash consistent with appropriation transfers. Appropriated fundsfrom federal sources are exempted from transfer. Except for funds to payprivate partners as authorized in subsection B of 2.2-2007, moneys in theFund shall only be expended as provided by the appropriation act.

Interest earned on the Fund shall be credited to the Fund. The Fund shall bepermanent and nonreverting. Any unexpended balance in the Fund at the end ofthe biennium shall not be transferred to the general fund of the statetreasury.

(1996, cc. 94, 823, 9-145.54, 9-145.55; 2001, c. 844, 2.2-1703; 2003,cc. 981, 1021.)