2002 Session

Budget Amendments - SB29 (Committee Approved)

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Consolidate Tax Forecasting Functions (language only)

Item 280 #1s

Item 280 #1s

Taxation, Department of

Page 242, after line 8, insert:
"By June 30, 2002, 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 of the Code of Virginia.  The Director of 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.)