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2024 Session

Budget Amendments - SB30 (Member Request)

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Chief Patron: Pekarsky
Surplus Lines Broker VRE (language only)

Item 0 #19s

Item 0 #19s

Revenues
Revenues

Language

Page 1, strike line 25 and insert:"

        

Official Revenue Estimate

$28,121,286,852

$29,646,802,918

$57,768,089,770

"



Explanation

(This amendment reduces general fund revenue by $100,000 each year as a placeholder for legislation to be introduced in the 2024 session, which provides that any surplus lines broker or any person required to be licensed as one shall not be subject to the annual taxes, license taxes, or penalties under current law for any policy of insurance procured during the preceding calendar year on behalf of a commuter rail system jointly operated by the Northern Virginia Transportation Commission and the Potomac and Rappahannock Transportation District. The actual revenue impact is to be determined based on the legislation.)