2006 Special Session I

Budget Amendments - HB5002 (Conference Report)

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Division of Debt Collection (language only)

Item 52 #1c

Item 52 #1c

Executive Offices
Division Of Debt Collection

Page 30, strike lines 9-11 and insert:
"Virginia.  This deposit provision shall also apply to state agencies for any direct payment received by an agency on an account that has been referred for collection to the Division of Debt Collection.  Upon making a deposit into the Fund, the state agency shall report the deposit to the Division of Debt Collection."
Page 30, strike lines 21-33 and insert:
"3.a.  The Division of Debt Collection is entitled to retain as fees up to 30 percent of any revenues generated by it pursuant to paragraph B.1. to pay operating costs supported by the appropriation in this item.  
b.  Upon closing its books at the end of the fiscal year, after the execution of all transfers as required by paragraph B.5. of this item, the Division of Debt Collection shall transfer to the general fund all retained fees in excess of a $400,000 balance in its operating accounts after payment of all fiscal year operating costs.  
4.  The Director, Department of Planning and Budget, may grant an exception to the provisions in paragraph B.3.b. if the Division of Debt Collection can show just cause."
Page 30, line 34, strike "4." and insert "5.".
page 30, line 47, strike "5." and insert "C."
Page 30, after line 49, insert:
"D.  The Attorney General shall provide a report on the most cost-effective strategies for improving Virginia's collections of accounts receivable, including both general and nongeneral fund receivables.  The Secretary of Finance shall provide assistance as necessary in the preparation of this report.  Copies of this report shall be provided to the Governor and the Chairmen of the House Appropriations and Senate Finance Committees by October 16, 2006."

(This amendment clarifies procedures for collecting accounts receivable.)