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1998 Special Session I

Budget Bill - HB4001 (Introduced)

Department of Medical Assistance Services

Item 339

Item 339

First Year - FY1999Second Year - FY2000
Virginia Children's Medical Security Insurance Plan Trust Fund (44600)sum sufficient
Fund Sources: 

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


Pursuant to Chapter 679, Acts of Assembly of 1997, 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.