2019 Session

Budget Amendments - HB1700 (Committee Approved)

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Adjust Funding for Revenue Reserve

Item 266 #1h

Item 266 #1h

First Year - FY2019 Second Year - FY2020
Department of Accounts Transfer Payments FY2019 ($479,070,000) FY2020 ($50,000,000) GF

Page 269, line 41, strike "$784,797,895" and insert "$305,727,895".
Page 269, line 41, strike "$95,500,000" and insert "$45,500,000".

Page 269, line 48, strike "$784,797,895" and insert "$305,727,895".

Page 269, line 48, unstrike "$45,500,000".

Page 269, line 49, strike "$95,500,000".

Page 270, strike lines 5 through 14.  


(This amendment removes funding proposed in House Bill 1700 as introduced for the Revenue Reserve. 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. Language in that item directs any funds attributable to the TCJA not returned to the Virginia Taxpayers to be transferred to the Revenue Reserve.)