A. There is established the Cooperative Marketing Fund (Marketing Fund) forthe purpose of encouraging, stimulating, and supporting the tourism segmentof the economy of the Commonwealth and the direct and indirect benefits thatflow from the success of such industry. To create the public-privatepartnership envisioned by such Marketing Fund, the Marketing Fund shall beestablished out of the sums appropriated by the General Assembly for thepurpose of matching private funds to be used for the promotion, marketing,and advertising of the Commonwealth's many tourist attractions and locations.Proposals shall be eligible for matching grant funds under this section onlyif they promote, benefit, market and advertise locations or destinations thatare (i) solely within the territorial limits of the Commonwealth or (ii) inboth the Commonwealth and any adjoining state, in which instance the matchinggrant funds should be used to promote locations and destinations locatedwithin the territorial limits of the Commonwealth. The funds made availablein the appropriations act for the Marketing Fund shall be administered andmanaged by the Authority.
B. In the event more than one person seeks to take advantage of the benefitsconferred by this section and the Marketing Fund is insufficient toaccommodate all such requests, the matching formula shall be adjusted, to theextent practicable, to afford each request for which there is a valid publicpurpose an equitable share.
C. All persons seeking to receive or qualify for such matching funds shallapply to the Authority in January of the year preceding the fiscal year forwhich funds are sought, and to the extent the Governor concurs in suchfunding request, it shall be reflected in the Governor's Budget Bill filedpursuant to § 2.2-1509. The application shall set forth the applicant'sproposals in detail. The Authority shall develop guidelines setting forth thecriteria it will weigh in considering such applications; such guidelines mayindicate a preference for proposals submitted by nonprofit organizations.
(1999, cc. 852, 881, § 2.1-548.60; 2001, c. 844; 2002, c. 442.)
A. There is established the Cooperative Marketing Fund (Marketing Fund) forthe purpose of encouraging, stimulating, and supporting the tourism segmentof the economy of the Commonwealth and the direct and indirect benefits thatflow from the success of such industry. To create the public-privatepartnership envisioned by such Marketing Fund, the Marketing Fund shall beestablished out of the sums appropriated by the General Assembly for thepurpose of matching private funds to be used for the promotion, marketing,and advertising of the Commonwealth's many tourist attractions and locations.Proposals shall be eligible for matching grant funds under this section onlyif they promote, benefit, market and advertise locations or destinations thatare (i) solely within the territorial limits of the Commonwealth or (ii) inboth the Commonwealth and any adjoining state, in which instance the matchinggrant funds should be used to promote locations and destinations locatedwithin the territorial limits of the Commonwealth. The funds made availablein the appropriations act for the Marketing Fund shall be administered andmanaged by the Authority.
B. In the event more than one person seeks to take advantage of the benefitsconferred by this section and the Marketing Fund is insufficient toaccommodate all such requests, the matching formula shall be adjusted, to theextent practicable, to afford each request for which there is a valid publicpurpose an equitable share.
C. All persons seeking to receive or qualify for such matching funds shallapply to the Authority in January of the year preceding the fiscal year forwhich funds are sought, and to the extent the Governor concurs in suchfunding request, it shall be reflected in the Governor's Budget Bill filedpursuant to § 2.2-1509. The application shall set forth the applicant'sproposals in detail. The Authority shall develop guidelines setting forth thecriteria it will weigh in considering such applications; such guidelines mayindicate a preference for proposals submitted by nonprofit organizations.
(1999, cc. 852, 881, § 2.1-548.60; 2001, c. 844; 2002, c. 442.)
A. There is established the Cooperative Marketing Fund (Marketing Fund) forthe purpose of encouraging, stimulating, and supporting the tourism segmentof the economy of the Commonwealth and the direct and indirect benefits thatflow from the success of such industry. To create the public-privatepartnership envisioned by such Marketing Fund, the Marketing Fund shall beestablished out of the sums appropriated by the General Assembly for thepurpose of matching private funds to be used for the promotion, marketing,and advertising of the Commonwealth's many tourist attractions and locations.Proposals shall be eligible for matching grant funds under this section onlyif they promote, benefit, market and advertise locations or destinations thatare (i) solely within the territorial limits of the Commonwealth or (ii) inboth the Commonwealth and any adjoining state, in which instance the matchinggrant funds should be used to promote locations and destinations locatedwithin the territorial limits of the Commonwealth. The funds made availablein the appropriations act for the Marketing Fund shall be administered andmanaged by the Authority.
B. In the event more than one person seeks to take advantage of the benefitsconferred by this section and the Marketing Fund is insufficient toaccommodate all such requests, the matching formula shall be adjusted, to theextent practicable, to afford each request for which there is a valid publicpurpose an equitable share.
C. All persons seeking to receive or qualify for such matching funds shallapply to the Authority in January of the year preceding the fiscal year forwhich funds are sought, and to the extent the Governor concurs in suchfunding request, it shall be reflected in the Governor's Budget Bill filedpursuant to § 2.2-1509. The application shall set forth the applicant'sproposals in detail. The Authority shall develop guidelines setting forth thecriteria it will weigh in considering such applications; such guidelines mayindicate a preference for proposals submitted by nonprofit organizations.
(1999, cc. 852, 881, § 2.1-548.60; 2001, c. 844; 2002, c. 442.)
