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2001 SESSION

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HB 2695 Virginia Investment Act of 2001.

Introduced by: Robert G. Marshall | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Budget bills; restrictions; Virginia Investment Act of 2001. Limits the rate of growth of state expenditures in the Governor's budget bill, and, except under certain conditions, in budget bills reported by any committee of the House of Delegates or the Senate, to the total of annual percentage changes in population and cost of living, but in no event greater than the three-year average of change in per capita personal income. In addition, surplus revenues shall be deposited into the Virginia Investment Account, which is established. Money in the Account shall be appropriated only for capital transportation projects, conservation and recreation projects, public school construction, higher education capital projects, tax relief, environmental quality programs, research and development projects relating to economic development, and reducing bonded indebtedness.

FULL TEXT

• 01/17/01  House: Presented & ordered printed 012891824  pdf | impact statement

HISTORY

• 01/17/01  House: Presented & ordered printed 012891824
• 01/17/01  House: Referred to Committee on Rules
• 01/29/01  House: Passed by indefinitely in Rules (16-Y 0-N)