Taxpayer Surplus Relief Fund; established to provide tax relief. (HB1318)

Introduced By

Del. John O'Bannon (R-Richmond) with support from 24 copatrons, whose average partisan position is:

Those copatrons are Del. Clay Athey (R-Front Royal), Del. Rob Bell (R-Charlottesville), Del. Kathy Byron (R-Lynchburg), Del. Ben Cline (R-Amherst), Del. Mark Cole (R-Fredericksburg), Del. Anne Crockett-Stark (R-Wytheville), Del. Jeff Frederick (R-Woodbridge), Del. Tom Gear (R-Hampton), Del. Todd Gilbert (R-Woodstock), Del. Riley Ingram (R-Hopewell), Del. Bill Janis (R-Glen Allen), Del. Steve Landes (R-Weyers Cave), Del. Scott Lingamfelter (R-Woodbridge), Del. Manoli Loupassi (R-Richmond), Del. Jimmie Massie (R-Richmond), Del. Sam Nixon (R-Richmond), Del. Chris Peace (R-Mechanicsville), Del. Tom Rust (R-Herndon), Del. Ed Scott (R-Culpeper), Del. Beverly Sherwood (R-Winchester), Del. Lee Ware (R-Powhatan), Del. Tommy Wright (R-Victoria), Sen. Bill Carrico (R-Grayson), Sen. John Cosgrove (R-Chesapeake)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 must equal at least $50 million and will be deposited in a special nonreverting fund titled the Virginia Taxpayer Surplus Relief Fund and must be used by the next session of the General Assembly to provide tax relief to Virginia taxpayers. This bill incorporates HB 1357. Read the Bill »


Bill Has Failed


01/09/2008Prefiled and ordered printed; offered 01/09/08 082208664
01/09/2008Referred to Committee on Finance
01/17/2008Assigned Finance sub: 3
01/18/2008Impact statement from DPB (HB1318)
02/04/2008Committee substitute printed 081921664-H1
02/04/2008Reported from Finance with substitute (21-Y 0-N) (see vote tally)
02/05/2008Read first time
02/06/2008Read second time
02/06/2008Floor substitute printed 081925416-H2 (Ward Armstrong)
02/06/2008Substitute by Delegate Armstrong offered 081925416-H2
02/06/2008No action taken on floor substitute (Armstrong)
02/06/2008Committee substitute agreed to 081921664-H1
02/06/2008Amendment by Delegate Armstrong offered
02/06/2008Motion to pass by amendment offered by Delegate Armstrong agreed to (54-Y 43-N)
02/06/2008VOTE: --- AGREE TO MOTION (54-Y 43-N) (see vote tally)
02/06/2008Amendment by Delegate Armstrong passed by
02/06/2008Engrossed by House - committee substitute HB1318H1
02/07/2008Read third time and passed House (99-Y 0-N)
02/07/2008VOTE: --- PASSAGE (99-Y 0-N) (see vote tally)
02/07/2008Communicated to Senate
02/08/2008Constitutional reading dispensed
02/08/2008Referred to Committee on Finance
02/27/2008Continued to 2009 in Finance (16-Y 0-N) (see vote tally)
12/05/2008Left in Finance