2022 Session

Budget Amendments - HB30 (Committee Approved)

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Move Lump Sum Payments to VRS to FY 2022

Item 269 #1h

Item 269 #1h

First Year - FY2023 Second Year - FY2024
Department of Accounts Transfer Payments FY2023 ($923,998,000) FY2024 $0 GF

Page 269, line 20, strike "$955,357,934" and insert "$31,359,934".

Page 269, strike lines 27 through 54.

Page 270, strike lines 1 through 2.


(This amendment redirects funding included in the introduced budget for lump sum payments for the VRS retirement system. A companion amendment in House Bill 29 provides a $500.0 million payment to the VRS in fiscal year 2022. Making the payment a year earlier than originally proposed will allow the funds to be invested a year earlier and realize an additional year of investment returns prior to the next valuation.)