New River Valley Emergency Communications Regional Authority; annual budget contribution.

Changes from one-quarter of the annual budget to a proportionate contribution amount from each participating political subdivision the required contribution to the operating and capital budget of the New River Valley Emergency Communications Regional Authority (the Authority). The bill requires the Board of the Authority to develop and submit for approval a formula to allocate a proportionate contribution for each participating political subdivision on or before February 1, 2019. The bill requires that the participating political subdivisions unanimously approve the formula before it is used to calculate each participating political subdivision's required contribution. If the formula is not unanimously approved, each participating political subdivision's contribution remains a one-quarter share of the annual budget.