2008 Session

Budget Amendments - HB29 (Committee Approved)

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Revenue Stabilization Fund Withdrawal (language only)

Item 260.10 #1h

Item 260.10 #1h

Accounts Transfer Payments, Department of

Page 102, strike lines 41 through 54 and insert:
"B.1. In accordance with the provisions of Article X, Section 8 of the Constitution of Virginia and § 2.2-1830, Code of Virginia, $280,000,000 is hereby appropriated in fiscal year 2008 from the Revenue Stabilization Fund.  The State Comptroller shall deposit this sum into the general fund of the State Treasury on or before June 30, 2008."
Page 103, line 1, strike "3." and insert "2."

(This amendment reflects a net withdrawal from the Revenue Stabilization Fund of $225.2 million. The withdrawal amount is reduced by the loss of $54.8 million that would have reverted to the general fund had a withdrawal not have been made. The maximum withdrawal authorized for fiscal year 2008 under the Constitution is $422.9 million.)