2018 Special Session I

Budget Amendments - HB5001 (Senate Committee Approved)

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Revenue Reserve (language only)

Item 4-14 #1s

Item 4-14 #1s

Effective Date
Additional Enactments


Page 292, strike line 4 through line 5.

Page 292, line 6, strike "4." and insert "3.".

Page 292, line 9, strike "or June".

Page 292, line 10, strike "30, 2018,".

Page 292, line 11, after D." insert "1.".

Page 292, line 11, after "remaining fifty percent" insert:

"from the fiscal year 2017 surplus revenues".

Page 292, after line 13, insert:

"2. Notwithstanding the limits prescribed in §2.2-1831.3 B, Code of Virginia, the Comptroller shall reflect a commitment on the preliminary balance sheet entitled "Revenue Reserve" to be held solely for the purposes of mitigating any loss of general fund revenues or transfers in future biennia pursuant to the provisions of Chapter 827, 2018 Session of the General Assembly, and any future appropriation acts."


(This amendment increases the percentage of excess fiscal year 2018 general fund revenues to be committed to the Revenue reserve Fund established pursuant to Chapter 827, 2018 Session of the General Assembly, from 50 percent to 100 percent of the amounts remaining after other required commitments and assignments excluding the Water Quality Improvement Fund.)