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2010 SESSION

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HB 594 Revenue Stabilization Fund; establishes a mechanism to provide tax relief to taxpayers.

Introduced by: James P. "Jimmie" Massie, III | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Excess funds in the Revenue Stabilization Fund. Establishes a mechanism to provide tax relief to Virginia taxpayers when the Auditor of Public Accounts determines the Revenue Stabilization Fund has reached its maximum size as provided in the Constitution of Virginia. The excess funds must equal at least $50 million and will be deposited in a special nonreverting fund titled the Virginia Taxpayer Surplus Relief Fund and must be used by the next session of the General Assembly to provide tax relief to low- and middle-income taxpayers throughout the Commonwealth.

FULL TEXT

• 01/12/10  House: Prefiled and ordered printed; offered 01/13/10 10100689D  pdf

HISTORY

• 01/12/10  House: Prefiled and ordered printed; offered 01/13/10 10100689D
• 01/12/10  House: Referred to Committee on Appropriations
• 01/19/10  House: Assigned App. sub: Technology Oversight and Government Activities
• 02/02/10  House: Subcommittee recommends laying on the table by voice vote
• 02/16/10  House: Left in Appropriations