§ 3-1.01 INTERFUND TRANSFERS

A.1. In order to reimburse the general fund of the state treasury for expenses herein authorized to be paid therefrom on account of the activities listed below, the State Comptroller shall transfer the sums stated below to the general fund from the nongeneral funds specified, except as noted, on January 1 of each year of the current biennium. Transfers from the Alcoholic Beverage Control Fund to the general fund shall be made four times a year, with each payment amounting to one-fourth of the total for the year, and such transfers shall be made within fifty (50) days of the close of the quarter. The payment for the fourth quarter of each fiscal year shall be made in the month of June.

2. Transfers of net profits from the Alcoholic Beverage Control Fund to the general fund shall be made four times a year, and such transfers shall be made within fifty (50) days of the close of each quarter. The transfer of fourth quarter profits shall be estimated and made in the month of June. In the event actual net profits are less than the estimate transferred in June, the difference shall be deducted from the net profits of the next quarter and the resulting sum transferred to the general fund. Distributions to localities shall be made within fifty (50) days of the close of each quarter. Net profits are estimated at $19,500,000 $19,906,400 the first year and $19,300,000 $19,706,400 the second year.

3. Notwithstanding any contrary provision of law, the State Comptroller shall transfer on or before June 30, 1997, and June 30, 1998, to the general fund of the state treasury the following amounts from the agencies and fund sources listed below:

B. If any transfer to the general fund required by this subsection § 3-1.01 is subsequently determined to be in violation of any federal statute or regulation, the State Comptroller is hereby directed to reverse such transfer and to return such funds to the affected nongeneral fund account.

C. In order to fund such projects for improvement of the Chesapeake Bay and its tributaries as provided in § 58.1-2146 (D), Code of Virginia, there is hereby transferred to the general fund of the state treasury the amounts listed below. The Department of Motor Vehicles shall be responsible for effecting the provisions of this paragraph. The amounts listed below shall be transferred on June 30 of each fiscal year.

D. The provisions of Chapter 6 of Title 58.1, Code of Virginia notwithstanding, the State Comptroller shall transfer to the general fund from the special fund titled "Collections of Local Sales Taxes" a proportionate share of the costs attributable to increased local sales and use tax compliance efforts and retention of local mapping services by the Department of Taxation estimated at $2,937,781 $2,841,446 the first year and $2,937,781 the second year.

E. The State Comptroller shall transfer to the general fund from the Transportation Trust Fund a proportionate share of the costs attributable to increased sales and use tax compliance efforts by the Department of Taxation estimated at $1,248,803 the first year and $1,248,803 the second year.

F.1. The State Comptroller shall transfer on or before June 30, 1997, and June 30, 1998, respectively, to the general fund of the state treasury the following amounts from the agencies and fund sources listed below, for expenses incurred by central service agencies:

2. The State Comptroller shall transfer on or before June 30, 1997, the following amounts from the general fund of the state treasury to the agencies and fund sources listed below for the overpayment of expenses incurred by central agencies during the fiscal year 1996:

G. The Comptroller shall transfer to the general fund an amount estimated at $331,100,000 $348,560,148 the first year and $350,000,000 $345,518,316 the second year from the State Lottery Fund. The transfer for each year shall be made in two parts: (1) on or before June 30 of each year, the Comptroller shall transfer balances of the State Lottery Fund for the fiscal year, based on an estimate determined by the State Lottery Department, and (2) no later than ten days after receipt of the annual audit report required by § 58.1-4023, Code of Virginia, the Comptroller shall transfer to the general fund the remaining audited balances of the State Lottery Fund for the prior fiscal year. If such annual audit discloses that the actual revenue is less than the estimate on which the transfer was based, the State Comptroller shall transfer the difference between the actual revenue and the estimate from the general fund to the State Lottery Fund. Further, the Comptroller shall transfer an additional Included in the above transfer is an amount estimated at $17,460,148 the first year and $3,518,316 the second year resulting from Lottery Funds as a consequence of the leasing of equipment rather than direct purchase. The Comptroller shall take all actions necessary to effect the transfers required by this paragraph, notwithstanding the provisions of § 58.1-4022, Code of Virginia.

H.1. The State Treasurer is authorized to charge up to 20 basis points for each nongeneral fund account which he manages and which receives investment income. The assessed fees, which are estimated to generate $3,000,000 the first year and $3,000,000 the second year, will be based on a sliding fee structure as determined by the State Treasurer. The amounts shall be paid into the general fund of the state treasury.

2. The State Treasurer is authorized to charge institutions of higher education participating in the pooled bond program of the Virginia College Building Authority an administrative fee of up to 10 basis points of the amount financed for each project in addition to a pro rata share of direct costs of issuance. Such amounts collected shall be paid into the general fund of the state treasury.

I. The State Comptroller shall transfer to the general fund of the state treasury fifty percent of the annual reimbursement received from the Manville Property Damage Settlement Trust for the cost of asbestos abatement at state owned facilities. The balance of the reimbursement shall be transferred to the state agencies that incurred the expense of the asbestos abatement.

J. The State Comptroller shall transfer to the general fund from the Revenue Stabilization Fund in the state treasury any amounts in excess of the limitation specified in § 2.1-191.2, Code of Virginia.

K.1. To the degree that additional federal matching funds become available for job training programs prior to the 1997 Session of the General Assembly, the Governor is authorized to transfer general fund amounts from unobligated balances or from programs of a closely related purpose, excluding programs of Virginia's Community Colleges, in order to secure the additional federal funds.

2. To the degree that additional matching funds are needed in order for Virginia to participate in the federal Superfund program prior to the 1998 Session of the General Assembly, the Governor is authorized to transfer general fund amounts from unobligated balances or from programs of a closely related purpose in order to secure the additional federal funds.

L.1. For each year of the biennium, the State Comptroller shall credit the general fund with the interest earned on the employee health insurance fund and the State Insurance Reserve Trust Fund, estimated at $16,900,000 $10,800,000 per year, notwithstanding the provisions of §§2.1-20.1 and 2.1-526.5, Code of Virginia, respectively. The credit applicable to the State Insurance Reserve Trust Fund shall exclude the following funds:

2. In the event that the cash and accrued receivables balance of the employee health insurance fund on June 30, 1997, is less than the sum of accrued claims payable at that date, plus the actuarial reserves as recommended by the most recent actuarial study, the Governor is authorized to allow the fund to retain any allocated interest earnings. The balance shall be certified by the State Comptroller after audit by the Auditor of Public Accounts.

3. In the event that cash reserves in the Workers' Compensation Insurance portion (0742) of the State Insurance Reserve Trust Fund on June 30, 1997, are either: (a) lower than the June 30, 1996, fund balance or (b) insufficient to meet claims on an accrued basis, the Governor is authorized to allow the Workers' Compensation Insurance portion to retain any allocated interest earnings.

M. Not later than thirty days after the close of each quarter during the biennium, the Comptroller shall transfer fifty percent of the funds collected pursuant to § 58.1-1402, Code of Virginia, estimated at $312,500 $325,000 each quarter, from the general fund to the motorboat and water safety fund of the game protection fund.

N. On or before June 30 of each year of the biennium, the State Comptroller shall transfer to the general fund an amount estimated at $71,185 from the Federal Retiree Tax Reserve created pursuant to Enactment No. 2, §§ 1 B. and 3 B of Chapter 5 of the Acts of Assembly of 1994, Special Session I. This amount represents settlement payments waived by certain taxpayers in connection with income tax refunds disputed by federal retirees.

O. The State Comptroller shall transfer prior to January 1, 1997, and January 1, 1998, respectively, to the general fund of the state treasury the following amounts from the agencies and fund sources listed below, for expenses incurred in processing payroll.

P.1. On or before June 30 each year of the biennium, the State Comptroller shall transfer an amount equal to the loan balance, but not to exceed in excess of $1,200,000 from the general fund to the general account to repay the treasury loan provided to the Department of Accounts to replace the payroll and personnel systems with an integrated human resource information system. In addition, on or before June 30, 1998, the State Comptroller shall transfer an amount not to exceed $320,000 from the Employee Health Insurance Fund to the general account to repay a portion of the treasury loan.

2. In the event that the amount of the loan balance at the date of repayment is less than $1,520,000, the entire loan balance shall be paid off, with the source of funds for the payment proportionately divided between the general fund and the Employee Health Insurance Fund in accordance with the sums specified above.

Q. On or before June 30, 1997, the State Comptroller shall transfer to the general fund $2,500,000 from the balances available in the Internal Service Fund of the Central Garage Car Pool of the Department of Transportation.

R. The State Comptroller, in cooperation with the Auditor of Public Accounts, shall identify nongeneral funds which, under generally accepted acccounting principles (GAAP), should be reclassified as general fund. On or before June 30 of each year, the State Comptroller shall transfer to the general fund the balances in excess of appropriations of such funds, in an amount estimated at $2,700,000.

S. The Virginia Public School Authority shall transfer to the general fund an amount estimated at $137,000 on or before June 30 of each year to reimburse the Commonwealth for staff and other administrative services to the Department of the Treasury.

T. Prior to June 30, 1998, the Comptroller shall transfer to the general fund $5,000,000 from balances in the special fund of the Department of Motor Vehicles, to support second year appropriations for the Route 58 Corridor Development Fund and the Northern Virginia Transportation Program.

U. No later than June 30, 1998, the State Comptroller shall transfer $3,074,146 to the general fund of the State Treasury, from Medical Malpractice Reserves of the Department of General Services.

V. No later than June 30, 1998, the State Comptroller shall transfer $29,000 to the general fund of the State Treasury, from Auto Liability Reserves of the Department of General Services.

W. The State Treasurer shall transfer $200,000 $339,908 on or before June 30, 1997, and $200,000 on or before June 30, 1998, to the general fund from excess §9 (c) sinking fund balances.

X. On or before June 30, 1997, the State Comptroller shall transfer to the general fund an amount estimated at $150,000 from special fund balances in the Office of the Attorney General.

Y. The Virginia Employment Commission shall transfer to the general fund an amount estimated at $100,000 on or before June 30, 1997, from excess interest and penalties.

Z. The following sums, or such portions as may be required, shall be transferred from the fund balance of the general fund for repayment of the listed authorized deficits:

AA. On or before June 30, 1997, the State Comptroller shall transfer from the general fund to the Virginia Veterans Care Facility Maintenance Fund an amount estimated at $20,000 for interest accrued from April 1, 1994, through June 30, 1995, as required by § 2.1-744.5, Code of Virginia.

BB. On or before June 30, 1997, the State Comptroller shall transfer to the general fund an amount estimated at $642,000 from the Central Warehouse internal service fund of the Department of General Services.