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2008 Session

Budget Amendments - HB30 (Conference Report)

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4-2.02 n. - Settlements in Favor of Commonwealth (language only)

Item 4-2.02 #1c

Item 4-2.02 #1c

Revenues
General Fund Revenue

Language
Page 506, after line 12, insert:
"n.1. Unless otherwise specifically required to ensure compliance with federal or state law, regulation, court order, or court rule, and only to the extent thereof, each settlement under subsection A. of § 2.2-514, Code of Virginia, that provides for the payment, conveyance, grant, forfeiture, assignment, or other distribution of moneys or of any real, tangible, or intangible property to settle the Commonwealth's interest shall provide that such moneys or property be deposited or assigned for deposit into the general fund of the state treasury to be appropriated as determined by the General Assembly.  The provisions of this paragraph shall only apply to such settlements in favor of the Commonwealth and shall apply to both civil and criminal matters.
2.  The provisions of this paragraph shall not apply to any settlement (a) in which the total value of such moneys or property does not exceed $250,000, (b) in which the entire amount of the settlement is for services provided or for property sold or provided under a contract, or (c) for an act or practice covered by the Virginia Consumer Protection Act (§ 59.1-196 et. seq., Code of Virginia) or the Virginia Antitrust Act (§ 59.1-9.1 et. seq., Code of Virginia)."


Explanation
(This amendment establishes language providing that except in certain circumstances, such as where prohibited by federal or state law, all settlements providing a distribution of money or property to the Commonwealth shall be deposited or assigned for deposit to the general fund. Other exceptions to this policy include any settlement for $250,000 or less, any settlement that is for services provided or for property sold under contract, or for any act covered by either the Virginia Consumer Protection Act or the Virginia Antitrust Act.)