2013 Session

Budget Amendments - SB800 (Committee Approved)

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Redirect Portion of MSA Settlement to General Fund (language only)

Item 3-1.01 #2s

Item 3-1.01 #2s

Interfund Transfers

"Page 483, after line 4, insert:
"PP.  On or before June 30, 2013, the State Comptroller shall transfer from the Tobacco Settlement Fund to the general fund an amount estimated at $3,460,963."

(This amendment transfers $3.4 million to the general fund from an additional settlement payment to the Virginia Tobacco Settlement Fund consistent with the tentative agreement with tobacco manufacturers in FY 2013. The additional payment to the Commonwealth is estimated at $52.2 million. Under current law, $4.4 million would be allocated to the VTSF, equivalent to 8.5 percent of the MSA settlement payment, and used by the Virginia Foundation for Healthy Youth. This amendment provides $979,518 of the $4.4 million amount to the VTSF, and diverts the balance of $3.4 million to the general fund. The introduced budget appropriates $11.4 million annually from the VTSF for tobacco use prevention and obesity prevention activities.)