§15.2-4907. Fiscal impact statement


Published: 2015

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§ 15.2-4907. Fiscal impact statement.

Every request for industrial development (facility) financing when submitted to the governing body of the locality for approval shall be accompanied by a statement in the following form:
____________________
Date

________________________________________
(Name of Applicant)
________________________________________
(Facility)

a
1. Maximum amount of financing sought
$_____

b
2. Estimated taxable value of the facility's real property to be constructed in the locality
$_____

c
3. Estimated real property tax per year using present tax rates
$_____

d
4. Estimated personal property tax per year using present tax rates
$_____

e
5. Estimated merchants' capital tax per year using present tax rates
$_____

f
6. a. Estimated dollar value per year of goods that will be purchased from Virginia companies within the locality
$_____

g
b. Estimated dollar value per year of goods that will be purchased from non-Virginia companies within the locality
$_____

h
c. Estimated dollar value per year of services that will be purchased from Virginia companies within the locality
$_____

i
d. Estimated dollar value per year of services that will be purchased from non-Virginia companies within the
locality
$_____

j
7. Estimated number of regular employees on year round basis
$_____

k
8. Average annual salary per employee
$_____

Signature

________________________________________
Authority Chairman
________________________________________
Name of Authority
If one or more of the above questions do not apply to the facility indicate by writing N/A (not applicable) on the appropriate line.
The provisions of this section shall not apply to bonds, notes or other obligations issued pursuant to hearings held and governmental approvals obtained prior to the effective date of this act in compliance with federal law or regulation.
1983, c. 514, § 15.1-1378.2; 1997, c. 587; 1998, c. 728.