2022 Special Session I

Budget Bill - HB29 (Enrolled)

Department of Accounts Transfer Payments

Item 275

Item 275 (Not set out)

First Year - FY2021Second Year - FY2022
Revenue Cash Reserve (23700)$339,027,631$650,000,000
Appropriated Revenue Reserve (23701)FY2021 $339,027,631FY2022 $650,000,000
Fund Sources:  
GeneralFY2021 $339,027,631FY2022 $650,000,000

Notwithstanding any contrary provision of law, there is hereby appropriated in this item $339,027,631 from the general fund the first year and $650,000,000 from the general fund the second year to the Revenue Reserve established pursuant to § 2.2-1831.2, Code of Virginia, to mitigate any potential revenue or transfer shortfalls that may arise during the biennium. Notwithstanding any contrary provision of law, these amounts may be transferred to the Revenue Stabilization Fund to meet any Constitutionally-mandated deposit required based on revenue growth in either year of the fiscal year during the 2020-2022 biennium.