Taxpayer Surplus Relief Fund; established to provide tax relief. (HB1357)

Introduced By

Del. Ben Cline (R-Amherst)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Department of the Treasury; excess funds in the Revenue Stabilization Fund. Establishes a mechanism to provide tax relief to Virginia taxpayers when the Auditor of Public Accounts determines the Revenue Stabilization Fund has reached its maximum size as provided in the Constitution of Virginia. The excess funds will be deposited in a special nonreverting fund titled the "Virginia Taxpayer Surplus Relief Fund" to be used by the next session of the General Assembly to provide tax relief to Virginia taxpayers. Read the Bill »

Status

02/04/2008: Merged into HB1318

History

DateAction
01/09/2008Committee
01/09/2008Prefiled and ordered printed; offered 01/09/08 088443464
01/09/2008Referred to Committee on Finance
01/17/2008Assigned Finance sub: 3
01/22/2008Impact statement from DPB (HB1357)
02/04/2008Incorporated by Finance (HB1318-O'Bannon)