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_ 144 Item Details($) Appropriations($) ITEM 114. First Year Second Year First Year Second Year FY2025 FY2026 FY2025 FY2026 programming for Schooner Virginia. Any funding remaining at the end of the fiscal year 2025 shall be carried forward into the next fiscal year and reappropriated for the purposes described in this paragraph T., and shall not revert to the general fund. U. Out of this appropriation, $1,250,000 the first year from the general fund is provided for the Virginia Tourism Authority to develop a marketing campaign to attract out of state visitors from Black, Indigenous, and Hispanic communities. The amounts provided in this paragraph U. shall not revert to the general fund at the end of any fiscal year, but shall be carried forward and reappropriated. Total for Virginia Tourism Authority $32,214,929 $37,284,929 $26,014,929 $26,139,929 Fund Sources: General $32,214,929 $37,284,929 $26,014,929 $26,139,929 § 1-47. VIRGINIA INNOVATION PARTNERSHIP AUTHORITY (309) 115. Economic Development Services (53400) $63,488,565 $132,539,319 $111,536,839 $42,486,085 Economic Development Services (53412) $63,488,565 $132,539,319 $111,536,839 $42,486,085 Fund Sources: General $63,488,565 $132,539,319 $111,536,839 $42,486,085 Authority: Discretionary Inclusion. A. The Virginia Innovation Partnership Authority (VIPA) is hereby authorized to transfer funds in this appropriation to an established managing non-profit to expend said funds for realizing the statutory purposes of the Authority, by contracting with governmental and private entities, notwithstanding the provisions of § 4-1.05 b of this act. B. This appropriation shall be disbursed in twelve equal monthly disbursements each fiscal year. The Director, Department of Planning and Budget, may authorize an increase in disbursements for any month not to exceed the total appropriation for the fiscal year if such an advance is necessary to meet payment obligations. C.1. No later than June 15 of each year, the Authority shall provide to the Chairs of the House Appropriations and Senate Finance and Appropriations Committees, the Secretary of Commerce and Trade, and the Director, Department of Planning and Budget, a report of its operating plan for each year of the biennium. No later than September 30 of each year, the Authority shall submit to the same entities a detailed expenditure report and a listing of the salaries and bonuses for all authority employees for the concluded fiscal year. Both reports shall be prepared in the formats as approved by the Director, Department of Planning and Budget, and include, but not be limited, to the following: a. All planned and actual revenue and expenditures along with funding sources, including state, federal, and other revenue sources of both the Authority and the managing non-profit entity; b. By activity or program, total grants made and investments awarded for each grant and investment program; c. By activity or program, recoveries of previous grants or investments and sales of equity positions; d. Cash balances by funding source, and a report, by program, of available, committed and projected expenditures of all cash balance; and, e. Private investment activity related to the fund of funds established in U. of this item. 2. The President of the managing non-profit entity shall report quarterly to the entity's board of directors, and the Chairs of the House Appropriations and Senate Finance and Appropriations Committees, the Secretary of Commerce and Trade, and the Director, Department of Planning and Budget, in a format approved by the Board the following: I VETO ITEM 114.U. ON PAGE 144 /s/ Glenn Youngkin 5-2-25