Virginia Senate Bill 1283 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 12 2011 - 25% progression, died in chamber
Action: 2011-02-01 - Senate: Stricken at request of Patron in Finance (14-Y 0-N)
Text: Latest bill text (Introduced) [HTML]

Assignment of year-end surplus. Changes the priority for assigning any year-end surplus by requiring that any general fund balance remaining after funds are set aside for required deposits to the Revenue Stabilization Fund would be assigned as follows: 50 percent for deposit into the Transportation Trust Fund and 50 percent for the payment of certain deferred retirement contributions described under paragraph I 5 of Item 469 of Chapter 874 of the Acts of Assembly of 2010 until such deferred retirement contributions have been paid in full. If any surplus remains after such assignments, the remainder would be assigned to the Virginia Water Quality Improvement Fund and other commitments including commitments to certain public institutions of higher education. Under current law, any year-end surplus is first assigned for deposit to the Revenue Stabilization Fund, the Virginia Water Quality Improvement Fund, and other commitments, including commitments to certain public institutions of higher education. If any surplus remains after such assignments, the remainder is assigned two-thirds for deposit into the Transportation Trust Fund and one-third for funding nonrecurring expenditures.

Year-end surplus of general fund balance; changes priority of assignment.

Sen. Jeffrey McWaters [R]

2011-02-01 - Senate - Senate: Stricken at request of Patron in Finance (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2011-02-01		Senate: Stricken at request of Patron in Finance (14-Y 0-N)
2011-01-12		Senate: Referred to Committee on Finance
2011-01-12		Senate: Prefiled and ordered printed; offered 01/12/11 11100530D

Chapter	Article	Section	Citation Type	Statute Text
2	2	1514	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?111+sum+SB1283
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+SB1283+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?111+vot+S05V0096+SB1283