12102815D
HOUSE BILL NO. 501
Offered January 11, 2012
Prefiled January 10, 2012
A BILL to amend and reenact §2.2-1514 of the Code of
Virginia, as it is currently effective and as it may become effective, relating
to assignments of the general fund balance remaining at the end of each fiscal
year.
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Patron-- Dance
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Referred to Committee on Appropriations
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Be it enacted by the General Assembly of Virginia:
1. That §2.2-1514 of the Code of Virginia, as it is
currently effective and as it may become effective, is amended and reenacted as
follows:
§2.2-1514. (Contingent expiration date - see Editor's notes)
Assignment of general fund for nonrecurring expenditures.
A. As used in this section:
"The Budget Bill" means the "The Budget
Bill" submitted pursuant to §2.2-1509, including any amendments to a
general appropriation act pursuant to such section.
"Nonrecurring expenditures" means the acquisition or
construction of capital outlay projects as defined in §2.2-1518, the
acquisition or construction of capital improvements, the acquisition of land,
the acquisition of equipment, or other expenditures of a one-time nature as
specified in the general appropriation act. Such term shall not include any
expenditures relating to transportation, including but not limited to transportation
maintenance.
B. At the end of each fiscal year, the Comptroller shall
assign within his annual report pursuant to §2.2-813 as follows: one-third 15 percent of the remaining amount of the general fund balance
that is not otherwise restricted, committed, or assigned for other usage within
the general fund shall be assigned by the Comptroller for kindergarten through grade 12
public education programs other than Standards of Quality programs, 18
percent shall be assigned for nonrecurring expenditures,
and two-thirds 67 percent shall be assigned
for deposit into the Transportation Trust Fund. No such assignment shall be
made unless the full amounts required for other restrictions, commitments, or
assignments including but not limited to (i) the Revenue Stabilization Fund
deposit pursuant to §2.2-1829, (ii) the Virginia Water Quality Improvement
Fund deposit pursuant to §10.1-2128, but excluding any deposits provided under
the Virginia Natural Resources Commitment Fund established under §10.1-2128.1,
(iii) capital outlay reappropriations pursuant to the general appropriation
act, (iv) (a) operating expense reappropriations pursuant to the general
appropriation act, and (b) reappropriations of unexpended appropriations to
certain public institutions of higher education pursuant to §2.2-5005, (v) pro
rata rebate payments to certain public institutions of higher education
pursuant to §2.2-5005, (vi) the unappropriated balance anticipated in the
general appropriation act for the end of such fiscal year, and (vii) interest
payments on deposits of certain public institutions of higher education
pursuant to §2.2-5005 are set aside. The Comptroller shall set aside amounts
required for clauses (iv) (b), (v), and (vii) beginning with the initial fiscal
year as determined under §2.2-5005 and for all fiscal years thereafter.
C. The Governor shall include in "The Budget Bill"
pursuant to §2.2-1509 recommended appropriations from the general fund or
recommended amendments to general fund appropriations in the general
appropriation act in effect at that time an amount amounts for kindergarten through grade 12
public education programs other than Standards of Quality programs, amounts
for nonrecurring expenditures,
and an amount amounts for deposit into the Transportation Trust Fund
equal to the amounts assigned by the Comptroller for such purposes pursuant to
the provisions of subsection B. Such deposit to the Transportation Trust Fund
shall not preclude the appropriation of additional amounts from the general
fund for transportation purposes.
§2.2-1514. (Contingent effective date - see Editor's notes)
Assignment of general fund for nonrecurring expenditures.
A. As used in this section:
"The Budget Bill" means the "The Budget
Bill" submitted pursuant to §2.2-1509, including any amendments to a
general appropriation act pursuant to such section.
"Nonrecurring expenditures" means the acquisition or
construction of capital outlay projects as defined in §2.2-1518, the
acquisition or construction of capital improvements, the acquisition of land,
the acquisition of equipment, or other expenditures of a one-time nature as
specified in the general appropriation act.
B. At the end of each fiscal year, the Comptroller shall
assign within his annual report pursuant to §2.2-813 an
amount for nonrecurring expenditures, which shall equal as follows: 15 percent of
the remaining amount of the general fund balance that is not otherwise
restricted, committed, or assigned for other usage within the general fund shall be assigned by the Comptroller for kindergarten through grade 12
public education programs other than Standards of Quality programs and 85
percent shall be assigned for nonrecurring expenditures. No
such assignment shall be made unless the full amounts required for other
restrictions, commitments, or assignments including but not limited to (i) the
Revenue Stabilization Fund deposit pursuant to §2.2-1829, (ii) the Virginia
Water Quality Improvement Fund deposit pursuant to §10.1-2128, but excluding
any deposits provided under the Virginia Natural Resources Commitment Fund
established under §10.1-2128.1, (iii) capital outlay reappropriations pursuant
to the general appropriation act, (iv) (a) operating expense reappropriations
pursuant to the general appropriation act, and (b) reappropriations of
unexpended appropriations to certain public institutions of higher education
pursuant to §2.2-5005, (v) pro rata rebate payments to certain public
institutions of higher education pursuant to §2.2-5005, (vi) the
unappropriated balance anticipated in the general appropriation act for the end
of such fiscal year, and (vii) interest payments on deposits of certain public
institutions of higher education pursuant to §2.2-5005 are set aside. The
Comptroller shall set aside amounts required for clauses (iv) (b), (v), and
(vii) beginning with the initial fiscal year as determined under §2.2-5005 and
for all fiscal years thereafter.
C. The Governor shall include in "The Budget Bill"
pursuant to §2.2-1509 recommended appropriations from the general fund or
recommended amendments to general fund appropriations in the general appropriation
act in effect at that time an amount amounts for kindergarten through grade 12 public education
programs other than Standards of Quality programs and amounts
for nonrecurring expenditures equal to the amount amounts
assigned by the Comptroller for such purpose purposes pursuant to the
provisions of subsection B of this section.
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