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 reviewed by the ITAC and approvedby the Secretary of Finance. The Auditor of Public Accounts shall certify theamount of any savings identified by the CIO. For public institutions ofhigher education, however, savings shall consist only of that portion oftotal savings that represent general funds. The State Comptroller isauthorized to transfer cash consistent with appropriation transfers.Appropriated funds from federal sources are exempted from transfer. Exceptfor funds to pay private partners as authorized in subsection B of §2.2-2007, moneys in the Fund shall only be expended as provided by theappropriation 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; 2010, cc. 136, 145.)