2016 Session

Budget Amendments - HB29 (Floor Approved)

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Transfer NGF Balances to VRS to Expedite Repayment (language only)

Item 3-1.01 #2h

Item 3-1.01 #2h

Interfund Transfers


Page 215, after line 14, insert:

“AAA. On or before June 30, 2016, the State Comptroller shall transfer $598,327 from unobligated nongeneral fund cash balances within the Virginia Department of Game and Inland Fisheries (DGIF) to the Virginia Retirement System (VRS) representing DGIF's portion of the remaining liability from the VRS contributions that were deferred during the 2010-12 biennium.”


(This amendment authorizes the transfer of $598,327 from the nongeneral fund cash balances to the Virginia Retirement System to expedite the repayment to the VRS of the 2010-12 biennium deferred contributions. A companion amendment in Item 467 deposits $188.9 million from the general fund into the VRS. In combination, these two amendments will fully repay the VRS for the deferred payments for the four state employee plans.)