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1998 Special Session I

Budget Bill - HB4001 (Introduced)

Central Appropriations

Item 547.10

Item 547.10

First Year - FY1999Second Year - FY2000
Reversion Clearing Account - Miscellaneous (22600)-$16,482,242-$16,782,076
Fund Sources: 
GeneralFY1999 -$16,482,242FY2000 -$16,782,076

A. For fiscal year 1999 and fiscal year 2000, state and local members of the Virginia Retirement System participating in the group life insurance program will not be required to make group life insurance contributions. The Director of the Department of Planning and Budget shall withhold from agency appropriations amounts appropriated from the general fund for group life insurance contributions. These amounts, estimated to be $14,782,435 the first year and $15,053,894 the second year, shall be transferred to this item.


B. The Director of the Department of Planning and Budget shall withhold from agency appropriations and transfer to this item an amount estimated at $797,430 the first year and $790,794 the second year for statewide reductions in personnel costs resulting from a delay in implementing changes made to the contribution rates to the Virginia Retirement System.


C. The Director of the Department of Information Technology shall take all necessary action and shall provide information to the Director of the Department of Planning and Budget to withhold from agency appropriations such general and nongeneral fund amounts for computer services and telecommunications services in excess of the amounts required as a result of a rate reduction effective January 1998. The general fund reduction, estimated at $902,377 the first year and $937,388 the second year shall be transferred to this item. The nongeneral fund amount, estimated at $757,774 the first year and $767,758 the second year, shall be transferred to the general fund pursuant to the provisions of Section 3-1.00 of this act. All funds from institutions of higher education, the Virginia Retirement System, and federal sources are excluded from these transfers.