476. | Administrative and Support Services (59900) | 0 | 0
Authority: Article IV, Section 14 and Article IX, Constitution of
Virginia; Title 12.1, Code of Virginia.
A. Operational costs for this program shall be paid solely from
charges to agency programs.
B. Out of the amounts for this Item, shall be paid the annual
salary of the chairman, $163,617 from July 1, 2012, to June 30, 2014, and for
the other two Commissioners of the State Corporation Commission, each at
$161,825 from July 1, 2012, to June 30, 2014.
C. Notwithstanding the provisions of §13.1-775 1 of the Code of
Virginia, the State Corporation Commission shall continue the following annual
registration fees for domestic and foreign corporations to be collected on or
after July 1, 2012. The new annual rates shall be one hundred dollars for every
foreign and domestic corporation authorized to do business in the Commonwealth
whose number of authorized shares is 5,000 shares or less. Any such corporation
whose number of authorized shares is more than 5,000 shall pay an annual
registration fee of $100 plus $30 for each 5,000 shares or fraction thereof in
excess of 5,000 up to a maximum of $1,700. The commission shall deposit these
funds into a special fund and transfer three-fourths of the receipts to the
general fund semiannually.
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