Charter; City of Martinsville. (HB456)

Introduced By

Del. Don Merricks (R-Danville)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Charter; City of Martinsville. Provides that the City shall establish a municipal endowment fund. The principal of the fund shall be (i) all of the proceeds of the sale of any City asset owned by the City that generates between $10 million and $20 million, (ii) one-half of any such proceeds in excess of $20 million, (iii) 10 percent of revenues remaining unexpended at the end of each fiscal year, (iv) such income generated by the fund remaining unexpended at the close of each fiscal year, and (v) such other funds as the city council may by majority vote to contribute to the fund. Read the Bill »


Bill Has Passed


01/04/2008Prefiled and ordered printed; offered 01/09/08 086138638
01/04/2008Referred to Committee on Counties, Cities and Towns
02/01/2008Reported from Counties, Cities and Towns with substitute (22-Y 0-N) (see vote tally)
02/01/2008Committee substitute printed 082058638-H1
02/04/2008Read first time
02/05/2008Read second time
02/05/2008Committee substitute agreed to 082058638-H1
02/05/2008Engrossed by House - committee substitute HB456H1
02/06/2008Read third time and passed House BLOCK VOTE (99-Y 0-N)
02/06/2008VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/06/2008Communicated to Senate
02/07/2008Constitutional reading dispensed
02/07/2008Referred to Committee on Local Government
02/19/2008Reported from Local Government with amendments (15-Y 0-N)
02/21/2008Constitutional reading dispensed (40-Y 0-N)
02/22/2008Read third time
02/22/2008Reading of amendments waived
02/22/2008Committee amendments agreed to
02/22/2008Engrossed by Senate as amended
02/22/2008Passed Senate with amendments (40-Y 0-N)
02/25/2008Placed on Calendar
02/26/2008Senate amendments agreed to by House (96-Y 0-N)
02/26/2008VOTE: --- ADOPTION (96-Y 0-N) (see vote tally)
02/28/2008Bill text as passed House and Senate (HB456ER)
02/28/2008Signed by Speaker
03/02/2008Signed by President
03/07/2008G Approved by Governor-Chapter 435 (effective 7/1/08)
03/14/2008G Acts of Assembly Chapter text (CHAP0435)

Duplicate Bills

The following bills are identical to this one: SB92.