SB760: General fund revenue; year-end surplus use thereof.

Chief Patron

Sen. Walter Stosch (R-12)

Status

Bill is Dead

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Summary

Use of year-end general fund balance.  Provides that any fiscal year-end general fund balance that is not otherwise reserved or designated shall be designated by the Comptroller in the amount of 50% for nonrecurring, non-transportation expenditures and 50% for deposit into the Highway Maintenance and Operating Fund.  The bill would provide that the Comptroller make such designation only after amounts have been reserved and set aside for the Revenue Stabilization Fund, the Virginia Water Quality Improvement Fund, and other required designations.  The bill would require the Governor to recommend appropriations in the budget bill that would be consistent with the Comptroller's designations for nonrecurring, non-transportation expenditures and for deposits into the Highway Maintenance and Operating Fund.   View Full Text »