VA HB877 | 2012 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 11 2012 - 25% progression, died in committee
Action: 2012-02-20 - House: Left in Appropriations
Pending: House Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on January 11 2012 - 25% progression, died in committee
Action: 2012-02-20 - House: Left in Appropriations
Pending: House Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]
Summary
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.
Title
Comptroller; assignment of general fund balance remaining at year end.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2012-02-20 | House: Left in Appropriations | |
2012-01-16 | House: Assigned App. sub: Technology Oversight & Government Activities | |
2012-01-11 | House: Referred to Committee on Appropriations | |
2012-01-11 | House: Prefiled and ordered printed; offered 01/11/12 12104039D |
Subjects
Code Citations
Virginia State Sources
Type | Source |
---|---|
Summary | https://lis.virginia.gov/cgi-bin/legp604.exe?121+sum+HB877 |
Text | https://lis.virginia.gov/cgi-bin/legp604.exe?121+ful+HB877+hil |