Virginia Sports Tourism Grant Program; established, report.

Changed the mechanism from a 'Grant Program' to a 'Fund' to create a permanent financial account in the state treasury.

Added provisions ensuring that interest earned on the Fund stays in the Fund and unspent balances do not revert to the general fund.

Updated the definition of the program name from 'Virginia Sports Tourism Grant Program' to 'Virginia Sports Tourism Fund'.

Added a requirement for an annual audit of the Fund by the Auditor of Public Accounts, with costs borne by the Fund.

Expanded annual reporting requirements to include total appropriations, cash balances, and balances available for future commitments.

Updated references to the program throughout the bill to reflect the new 'Fund' terminology.

The specific instruction to create a new special nonreverting fund in the state treasury was removed, indicating funding will be handled via the appropriation act rather than a dedicated account.

The definition of 'Fund' was removed and replaced with a definition for 'Program,' aligning the text with the new 'Virginia Sports Tourism Grant Program' title.

The requirement for the Authority to report on cash balances and available funds was removed, simplifying the annual reporting obligation to just grant awards and expenditures.

The specific instruction to create a new fund in subsection B was replaced with a mandate for the Authority to award grants exclusively to sponsors, removing the administrative step of fund creation.

Subsection 2 was updated to explicitly name the 'Virginia Tourism Authority' as the entity convening the work group, clarifying the responsible agency.

Changed the section title from 'Virginia Sports Tourism Fund' to 'Virginia Sports Tourism Grant Program' and updated the definition term from 'Fund' to 'Program'.

Consolidated grant award and repayment provisions into subsection B, removing the separate subsection C that was in the Engrossed version.

Simplified reporting requirements in subsection D by removing specific line items about total appropriations, cash balances, and audit cost provisions.

Changed the work group convening language to specifically name the 'Virginia Tourism Authority' instead of just 'the Authority'.

Removed the 'Senate Amendments' header and added standard Enrolled Act formatting including approval date and chapter designation.