2015 Session

Budget Amendments - SB800 (Floor Approved)

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Additional VRS Payment

Item 136 #10s

Item 136 #10s

First Year - FY2015 Second Year - FY2016
Education: Elementary and Secondary
Direct Aid To Public Education FY2015 $0 FY2016 ($2,422,083) GF
FY2015 $0 FY2016 $37,193,264 NGF

Page 113, line 32, strike "$6,333,616,326" and insert "$6,368,387,507".
Page 125, line 21, strike "$150,000,000" and insert "$187,193,264".
Page 429, line 38, strike "14.15 percent" and insert "14.07 percent".

(This amendment 1) increases to $187.2 million the amount of the one-time payment to the Virginia Retirement System to the ten-year deferred contribution balance, 2) captures savings of an additional $2.4 million from the lower employer contribution rate by re-amortizing the remaining balance from the ten-year deferred contribution, and 3) reflects the additional NGF estimated from the sale of old unclaimed property stock that can be made available for the Literary Fund.)