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2000 Session

Budget Bill - HB29 (Chapter 1072)

Department of Medical Assistance Services

Item 339

Item 339 (Not set out)

First Year - FY1999Second Year - FY2000
Virginia Children's Medical Security Insurance Plan (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 A 4 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.