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1998 Session

Budget Bill - SB29 (Introduced)

Department of Medical Assistance Services

Item 325.10

Item 325.10 (Not set out)

First Year - FY1997Second Year - FY1998
Virginia Children's Medical Security Insurance Plan Trust Fund (44600)sum sufficient
Fund Sources:  

Authority: Title 32.1, Chapter 13, Code of Virginia.


Contingent upon passage of House Bill 2682 and as provided therein, the State Corporation Commission shall annually, on or before June 30, 1998, and each year thereafter, calculate the premium differential between: (i) 0.75 percent of the direct gross subscriber fee income derived from eligible contracts, and (ii) the amount of license tax revenue generated pursuant to subdivision A4 of § 58.1-2501 for the immediately preceding taxable year and notify the Comptroller of the Commonwealth to transfer such amounts to the Virginia Children's Medical Security Insurance Plan Trust Fund as established on the books of the Comptroller.