Comptroller; assignment of general fund balance remaining at year end. (SB211)

Introduced By

Sen. George Barker (D-Alexandria)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Assignment of general fund balance remaining at year end.  Changes current law for the assignment of any year-end general fund surplus. The surplus would first be used for any Revenue Stabilization Fund deposit. Next, 30 percent of the remaining amount of the surplus would be set aside as additional contributions (i) for defined benefit retirement plans maintained by the Virginia Retirement System if the ratio of the actuarial assets to actuarial liabilities of any such plan is less than 0.80, and (ii) to the retirement plans of certain employees of public institutions of higher education who elected to be covered for retirement purposes under an optional defined contribution retirement plan in lieu of the Virginia Retirement System defined benefit retirement plan, if certain minimum contributions have not been made to such optional retirement plans. Any general fund balance remaining would then be set aside as provided under current law. Read the Bill »


Bill Has Failed


01/10/2012Prefiled and ordered printed; offered 01/11/12
01/10/2012Prefiled and ordered printed; offered 01/11/12 12101448D
01/10/2012Referred to Committee on Finance
01/23/2012Impact statement from DPB (SB211)
01/24/2012Impact statement from DPB (SB211)
02/08/2012Committee substitute printed 12105244D-S1
02/08/2012Continued to 2013 in Finance (15-Y 0-N) (see vote tally)

Duplicate Bills

The following bills are identical to this one: HB877.