2019 Session

Budget Amendments - HB1700 (Conference Report)

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Set-Aside for FY 2022 RDF Deposit

Item 265 #1c

Item 265 #1c

First Year - FY2019 Second Year - FY2020
Department of Accounts Transfer Payments FY2019 $0 FY2020 $97,517,000 GF

Page 269, line 24, strike "$262,941,731" and insert "$360,458,731".

Page 269, after line 39, insert:

"C. Out of this appropriation, $97,517,000 the second year from the general fund shall be paid by the State Comptroller on or before June 30, 2020, into the Revenue Stabilization Fund pursuant to § 2.2-1829, Code of Virginia.  This amount represents an estimate of the required deposit to the Revenue Stabilization Fund attributable to tax collections for fiscal year 2020, which the Auditor of Public Accounts shall determine for the year ending June 30, 2020.


(This amendment recognizes the assumed Revenue Stabilization Fund requirement due to anticipated fiscal year 2020 revenue collections and sets aside these amounts in fiscal year 2020. The Comptroller must commit these amounts for deposit to the Fund when he undertakes the fiscal year 2020 year-end close.)