Virginia House Joint Resolution 613 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 11 2011 - 25% progression, died in committee
Action: 2011-02-08 - House: Left in Privileges and Elections
Pending: House Privileges and Elections Committee
Text: Latest bill text (Introduced) [HTML]

Constitutional amendment (first resolution); limitation on debt. Provides that in any 10-fiscal-year period beginning with fiscal years of the Commonwealth starting on or after July 1, 2012, no more than the amount computed by first multiplying each year's realized and projected blended revenues by five percent and then taking an average of the resulting products would be used directly or indirectly for principal, interest, or other payments on debt. The bill defines debt as any debt issued or entered into for transportation projects and purposes, public buildings, or capital leases and other long-term obligations primarily secured by blended revenues. This limitation may be exceeded only by a vote of at least two-thirds of the members elected to each house of the General Assembly.

Constitutional amendment; limitation on debt (first reference).

Del. Mark Cole [R]

Date	Chamber	Action
2011-02-08		House: Left in Privileges and Elections
2011-01-13		House: Assigned P & E sub: #1 Constitutional
2011-01-11		House: Referred to Committee on Privileges and Elections
2011-01-11		House: Prefiled and ordered printed; offered 01/12/11 11103383D

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?111+sum+HJ613
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+HJ613+hil