2019 Session

Budget Amendments - HB1700 (Committee Approved)

View Budget Item
View Budget Item amendments

Literary & GF Revenues for VRS Cost

Item 136 #7h

Item 136 #7h

First Year - FY2019 Second Year - FY2020
Direct Aid to Public Education FY2019 ($80,000,000) FY2020 $0 GF
FY2019 $80,000,000 FY2020 $0 NGF


Page 154, line 49, strike "$66,349,570" and insert "$146,349,570".


(This amendment maintains the $146.3 million amount in the first year from the Literary Fund for Virginia Retirement System (VRS) payments which is reflected in the current adopted budget. This amendment removes funding proposed in House Bill 1700 as introduced for a fund swap for VRS payments. The Committee budget funding levels were limited to the additional dollars available pursuant to the economic reforecast presented in December, identified programmatic savings, and revenues generated by legislation expanding the collection of sales tax attributable to internet sales. All revenues attributable to the Tax Cuts and Jobs Act (TCJA) are captured in the Taxpayer Relief Fund and the Revenue Reserve Fund in Item 475.10. This required removing approximately $1.2 billion in spending compared to House Bill 1700 as introduced.)