10101939D
HOUSE BILL NO. 970
Offered January 13, 2010
Prefiled January 13, 2010
A BILL to amend and reenact § 2.2-1514, as it is
currently effective, of the Code of Virginia, relating to increasing the designation
of surplus revenues to be deposited into the Transportation Trust Fund.
----------
Patrons-- Rust, Albo, Anderson, Bell, Richard P., Bulova, Comstock,
Greason, Hugo, Iaquinto, Keam, LeMunyon, Lingamfelter and Sickles
----------
Referred to Committee on Appropriations
----------
Be it enacted by the General Assembly of Virginia:
1. That § 2.2-1514, as it is currently effective,
of the Code of Virginia is amended and reenacted as follows:
§2.2-1514. (Contingent expiration date - see Editor's notes)
Designation 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
designate, within his annual report
pursuant to §2.2-813 as follows: one-third
of,
the remaining amount of the general fund balance that
is not otherwise reserved or designated shall be designated by the Comptroller
for nonrecurring expenditures, and two-thirds shall be designated for deposit
into the Transportation Trust Fund. No such designation shall be made unless
the full amounts required for other reserves or designations including, but not
limited to, for
(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. Only after all designations
under subsection B have been made to
the fullest extent required under such subsection, the
Comptroller shall designate, within his annual report pursuant to §
2.2-813, any remaining general fund balance exclusively
as follows: 75 percent of
the remaining general fund balance shall be designated for deposit
into the Transportation Trust Fund established under §33.1-23.03:1, and
25 percent of the remaining
general fund balance shall be designated for nonrecurring expenditures.
CD. 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 for
nonrecurring expenditures and an amount for deposit into the Transportation
Trust Fund equal to the amounts designated by the Comptroller for such purposes
pursuant to the provisions of subsection B C. Such deposit to the
Transportation Trust Fund shall not preclude the appropriation of additional
amounts from the general fund for transportation purposes.
|
