2002 Session

Budget Amendments - HB30 (Conference Report)

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Consolidate Revenue Forecasting Process

Item 284 #2c

Item 284 #2c

First Year - FY2003 Second Year - FY2004
Taxation, Department of FY2003 $315,000 FY2004 $400,000 GF

Page 213, line 42, strike "$396,317" and insert "$711,317".
Page 213, line 42, strike "$396,317" and insert "$796,317".
Page 213, after line 43, insert:  
"The Department of Taxation shall assume the staffing and responsibility for the revenue forecasting of the Commonwealth Transportation Funds, including the DMV Special Fund, as provided in § 2.2-1503, Code of Virginia, effective July 1, 2002.  The Department of Motor Vehicles shall provide the Department of Taxation with direct access to all data records and systems required to perform this function.  The Department of Planning and Budget shall effectuate the transfer of three full-time equivalent positions and sufficient funding to ensure the successful consolidation of this function."

(This amendment consolidates the revenue forecasting process and staffing into one unit at the Department of Taxation. Currently, both the Tax Department and the Department of Motor Vehicles have revenue forecasting staff and processes.)