VA SB211 | 2013 | Regular Session
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 10 2012 - 25% progression, died in committee
Action: 2012-11-30 - Left in Finance
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Comm Sub) [HTML]
Status: Introduced on January 10 2012 - 25% progression, died in committee
Action: 2012-11-30 - Left in Finance
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Comm Sub) [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
Roll Calls
2012-02-08 - Senate - Senate: Continued to 2013 in Finance (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2012-11-30 | Senate | Left in Finance |
| 2012-02-08 | Senate | Continued to 2013 in Finance (15-Y 0-N) |
| 2012-02-08 | Senate | Committee substitute printed 12105244D-S1 |
| 2012-01-10 | Senate | Referred to Committee on Finance |
| 2012-01-10 | Senate | Prefiled and ordered printed; offered 01/11/12 12101448D |
