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2011 SESSION
11103917DBe it enacted by the General Assembly of Virginia:
1. That §§ 2.2-1503.1 and 30-58.3 of the Code of Virginia are amended and reenacted as follows:
§ 2.2-1503.1. Filing of financial outline by Governor.
On or before the first day of each regular session of the
General Assembly held in an
even-numbered year, the Governor shall prepare and submit
to the members of the General Assembly a financial plan for a prospective period of six years periods of six and 10 years.
The plan shall consist of (i) the Governor's biennial budget submitted pursuant
to subsection A of § 2.2-1508, (ii) estimates of anticipated general fund and
nongeneral fund revenue prepared for an
additional period of four years pursuant to § 2.2-1503, and (iii)
estimates of the general and nongeneral fund appropriations required for each
major program for an additional period
of four years, (iv) projections for
total state indebtedness, (v) projected future expenditures for debt
service over time, and (vi) any other
relevant measures of debt. The financial
plan shall be revised and updated within 60 days of the adoption of the budget.
In preparing such financial plan, the Governor may utilize the estimate prepared by each agency pursuant to § 2.2-1504, or such other information as he may deem necessary.
§ 30-58.3. Annual report on state spending.
A. No later than November 15 of each year, the Commission
shall provide to the Governor and the General Assembly an annual report on
state spending to be published as a state document that shall include, among
other things, (i) an identification and analysis of spending functions and
programs that could be consolidated with other programs without diminishing the
quality of the services provided to the citizens of the Commonwealth; (ii) an
identification and analysis of those spending functions or programs which no
longer have a distinct and discernible mission or are not performing their
missions efficiently; (iii) an identification and analysis of the state
programs that have had the largest impact on the growth of state spending over
the prior five biennia, in dollar terms; (iv) an identification and analysis of
the programs growing the fastest in percentage terms; (v) for the programs
identified as the largest or fastest-growing, comparisons of the growth in
spending on those programs to the rate of increase in inflation and the growth
in populations served by those programs over a comparable time period; (vi) an
analysis of the causes for the growth in spending on the largest and
fastest-growing programs and whether the growth in spending appears rationally
related to the rates of increase in inflation, tax relief measures, mandated
expenditures, populations served, or any other related matter; (vii) a six-year projection of expenditures in
programs identified as the largest and fastest growing; and
(vii) (viii) such other related issues as it deems appropriate.
B. All agencies of the Commonwealth shall provide assistance to the Commission in the preparation of this report, upon request.
2. That this act shall be known as the Virginia Responsible Budgeting and Spending Control Act of 2011.