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2011 SESSION
11103074DBe it enacted by the General Assembly of Virginia:
1. That § 2.2-1514 of the Code of Virginia, as it is currently effective and as it may become effective, is amended and reenacted as follows:
§ 2.2-1514. (Contingent expiration date - see Editor's notes) Assignment of the general fund balance remaining at the end of the fiscal year.
A. As used in this section:
"The Budget Bill" means the "The Budget Bill" submitted pursuant to § 2.2-1509, including any amendments to a general appropriation act pursuant to such section.
"Nonrecurring expenditures" means the acquisition or construction of capital outlay projects as defined in § 2.2-1518, the acquisition or construction of capital improvements, the acquisition of land, the acquisition of equipment, or other expenditures of a one-time nature as specified in the general appropriation act. Such term shall not include any expenditures relating to transportation, including but not limited to transportation maintenance.
B. At the end of each fiscal year, the Comptroller shall
assign within his annual report pursuant to § 2.2-813 as follows: one-third 67 percent of the remaining amount of the general fund balance that is not otherwise restricted, committed, or
assigned for other usage within the general fund shall be assigned by the
Comptroller for nonrecurring expenditures, and two-thirds
shall be assigned for deposit into the Transportation Trust Fund established under § 33.1-23.03:1; 23
percent shall be assigned for nonrecurring expenditures; and 10
percent shall be assigned to provide funding
to the Department of Veterans Services established
under Chapter 20 (§ 2.2-2000 et seq.) to be
used by the Department in accordance with the
provisions of such chapter. No such
assignment shall be made unless the full amounts required for other restrictions,
commitments, or assignments including but not limited to
(i) the Revenue Stabilization Fund deposit pursuant to § 2.2-1829, (ii) the
Virginia Water Quality Improvement Fund deposit pursuant to § 10.1-2128, but
excluding any deposits provided under the Virginia Natural Resources Commitment
Fund established under § 10.1-2128.1, (iii) capital outlay reappropriations
pursuant to the general appropriation act, (iv) (a) operating expense
reappropriations pursuant to the general appropriation act, and (b)
reappropriations of unexpended appropriations to certain public institutions of
higher education pursuant to § 2.2-5005, (v) pro rata rebate payments to
certain public institutions of higher education pursuant to § 2.2-5005, (vi)
the unappropriated balance anticipated in the general appropriation act for the
end of such fiscal year, and (vii) interest payments on deposits of certain
public institutions of higher education pursuant to § 2.2-5005 are set aside.
The Comptroller shall set aside amounts required for clauses (iv) (b), (v), and
(vii) beginning with the initial fiscal year as determined under § 2.2-5005 and
for all fiscal years thereafter.
C. The Governor shall include in "The Budget Bill"
pursuant to § 2.2-1509 recommended appropriations from the general fund or
recommended amendments to general fund appropriations in the general
appropriation act in effect at that time an amount reflecting amounts
for nonrecurring expenditures and an amount for, deposit into the
Transportation Trust Fund, and funding
to the Department of Veterans Services equal to the amounts
assigned by the Comptroller for such purposes pursuant to the provisions of
subsection B. Such deposit to the Transportation Trust Fund shall not preclude
the appropriation of additional amounts from the general fund for
transportation purposes.
§ 2.2-1514. (Contingent effective date - see Editor's notes) Assignment of the general fund balance remaining at the end of the fiscal year.
A. As used in this section:
"The Budget Bill" means the "The Budget Bill" submitted pursuant to § 2.2-1509, including any amendments to a general appropriation act pursuant to such section.
"Nonrecurring expenditures" means the acquisition or construction of capital outlay projects as defined in § 2.2-1518, the acquisition or construction of capital improvements, the acquisition of land, the acquisition of equipment, or other expenditures of a one-time nature as specified in the general appropriation act.
B. At the end of each fiscal year, the Comptroller shall
assign within his annual report pursuant to § 2.2-813 an
amount for nonrecurring expenditures, which shall equal the
remaining amount of the general fund balance that
is not otherwise restricted, committed, or assigned for other usage within the
general fund as follows: 90 percent
shall be assigned for nonrecurring expenditures and 10 percent
shall be assigned to provide funding to the Department of Veterans Services
established under Chapter 20 (§ 2.2-2000 et seq.) to
be used by the Department in accordance with the provisions of such chapter. No such assignment shall be made unless the full amounts
required for other
restrictions, commitments, or assignments including but not limited to
(i) the Revenue Stabilization Fund deposit pursuant to § 2.2-1829, (ii) the
Virginia Water Quality Improvement Fund deposit pursuant to § 10.1-2128, but
excluding any deposits provided under the Virginia Natural Resources Commitment
Fund established under § 10.1-2128.1, (iii) capital outlay reappropriations
pursuant to the general appropriation act, (iv) (a) operating expense
reappropriations pursuant to the general appropriation act, and (b)
reappropriations of unexpended appropriations to certain public institutions of
higher education pursuant to § 2.2-5005, (v) pro rata rebate payments to
certain public institutions of higher education pursuant to § 2.2-5005, (vi)
the unappropriated balance anticipated in the general appropriation act for the
end of such fiscal year, and (vii) interest payments on deposits of certain
public institutions of higher education pursuant to § 2.2-5005 are set aside.
The Comptroller shall set aside amounts required for clauses (iv) (b), (v), and
(vii) beginning with the initial fiscal year as determined under § 2.2-5005 and
for all fiscal years thereafter.
C. The Governor shall include in "The Budget Bill"
pursuant to § 2.2-1509 recommended appropriations from the general fund or
recommended amendments to general fund appropriations in the general
appropriation act in effect at that time reflecting
an amount for nonrecurring expenditures and an amount to
provide funding to the Department of Veterans Services
equal to the amount amounts assigned by the Comptroller for such purpose purposes pursuant to the provisions of subsection B of this section.