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2007 SESSION

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HJ 626 Constitutional amendment limit on growth in state general fund appropriations (first reference).

Introduced by: R. Lee Ware, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Constitutional amendment (first resolution); limit on growth in state general fund appropriations and revenues.  Limits general fund growth in any fiscal year to the preceding year's general fund appropriation plus the percentage increase in gross state product for the most recently available year and the percentage increase in state population. The General Assembly may exceed this limitation with a two-thirds vote of the members elected in each house. The amendment also provides that 50 percent of general fund revenues in excess of the limitation is to be returned to the citizens of Virginia and 50 percent goes into the Revenue Stabilization Fund.

FULL TEXT

• 01/08/07  House: Prefiled and ordered printed; offered 01/10/07 078280540  pdf

HISTORY

• 01/08/07  House: Prefiled and ordered printed; offered 01/10/07 078280540
• 01/08/07  House: Referred to Committee on Privileges and Elections
• 01/11/07  House: Assigned P & E sub: #1 (Marshall, R.G.)
• 02/06/07  House: Left in Privileges and Elections