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2023 Session

Budget Amendments - HB1400 (Floor Approved)

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Virginia Mass Violence Care Fund (language only)

Item 408 #1h

Item 408 #1h

Public Safety and Homeland Security
Department of Criminal Justice Services

Language

Page 502, line 54, strike "but not be limited to".

Page 502, line 55, after "insurance" insert:

"and ineligible for payments from the Virginia Criminal Injuries Compensation Fund".

Page 503, line 2, after "designee." insert:

"The Department shall only expend interest earned on the deposit made pursuant to paragraph 2 of this subsection and invested pursuant to paragraph 4 of this subsection, and such revenue from interest earned shall be available to the Department for expenditure beginning one year after funds are invested. The Department shall develop processes and procedures for vetting, processing and administering claims submitted by eligible victims."

Page 503, after line 4, insert:

"3.a. For the purposes of subsection T of this item, “mass violence” is defined as an intentional violent crime that results in physical, emotional, or psychological injury to a sufficiently large number of people and significantly increases the burden of victim assistance and compensation for the responding jurisdiction, as determined by the Director of the Department of Criminal Justice Services.

b. For the purposes of subsection T of this item, “victims” are defined as grandparents, parents, split parents, guardians, siblings, spouses of the deceased, those physically injured, and those physically present and witnessing a mass violence event.

4.a. The Department shall have the full power to invest, reinvest, and manage any assets of the Mass Violence Care Fund designated by the Director for investment, reinvestment, or management. The Department shall maintain a separate accounting for the assets of the Mass Violence Care Fund. The Department shall request a distribution from the Fund no more frequently than annually, and the Department shall designate funds for investment no more frequently than annually.

b. The Department shall invest the assets of the Fund with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. The Department shall also diversify such investments so as to minimize the risk of large losses unless under the circumstances it is clearly prudent not to do so.

c. No person employed by the Department of Criminal Justice Services or member of any advisory committee of the Retirement System or any of its tax exempt subsidiary corporations whose actions are within the standard of care in the preceding paragraph of this subsection shall be held personally liable for losses suffered by the Retirement System on investments made under the authority of this section.

d. The provisions of §§ 51.1-124.32 through 51.1-124.35, Code of Virginia, shall apply to the Board's activities with respect to funds in the Mass Violence Care Fund.

e. The Department may recover from the annual distributions from the Fund a reasonable administrative fee for its services.

f. The Department may designate any amount from the Mass Violence Care Fund to be invested, reinvested, and managed by the Board of the Virginia Retirement System. The State Treasurer is not liable for losses suffered by the Virginia Retirement System on investments made under the authority of this section."



Explanation

(This amendment provides language establishing additional requirements for the Virginia Mass Violence Care Fund.)