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1999 SESSION

986777168
HOUSE JOINT RESOLUTION NO. 84
Offered January 21, 1998
Proposing an amendment to Section 8 of Article VIII of the Constitution of Virginia, relating to the Literary Fund, its name and purposes.
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Patrons-- Councill, Abbitt, Almand, Armstrong, Barlow, Behm, Bennett, Clement, Cranwell, Darner, Davies, Deeds, Diamonstein, Dickinson, Dillard, Hall, Hamilton, Jackson, Joannou, Johnson, Jones, S.C., Keating, Melvin, Moss, Phillips, Plum, Puller, Shuler, Stump, Van Yahres, Williams and Woodrum; Senators: Barry, Bolling, Walker and Whipple
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Referred to Committee on Rules
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RESOLVED by the House of Delegates, the Senate concurring, a majority of the members elected to each house agreeing, That the following amendment to the Constitution of Virginia be, and the same hereby is, proposed and referred to the General Assembly at its first regular session held after the next general election of members of the House of Delegates for its concurrence in conformity with the provisions of Section 1 of Article XII of the Constitution of Virginia, namely:

Amend Section 8 of Article VIII of the Constitution of Virginia as follows:

ARTICLE VIII
Education

Section 8. The LiteraryVirginia Public School Construction and Capital Projects Fund.

The General Assembly shall set apart as a permanent and perpetual school fund the present Literary Fund; which shall be named the Virginia Public School Construction and Capital Projects Fund. The Virginia Public School Construction and Capital Projects Fund shall consist of the proceeds of all public lands donated by Congress for free public school purposes, of all escheated property, of all waste and unappropriated lands, of all property accruing to the Commonwealth by forfeiture except as hereinafter provided, of all fines collected for offenses committed against the Commonwealth, and of the annual interest on the LiteraryVirginia Public School Construction and Capital Projects Fund; and such other sums as the General Assembly may appropriate. But so long as the principal of the Fund totals as much as eighty million dollars, the General Assembly may set aside all or any part of additional moneys received into its principal for public school purposes, including the teachers retirement fund; however, an affirmative vote of two-thirds of all the members elected to each house shall be required to set aside such moneys for any public school purpose other than public school construction or public school capital projects.

The General Assembly may provide by general law an exemption from this section for the proceeds from the sale of all property seized and forfeited to the Commonwealth for a violation of the criminal laws of this Commonwealth proscribing the manufacture, sale or distribution of a controlled substance or marijuana. Such proceeds shall be paid into the state treasury and shall be distributed by law for the purpose of promoting law enforcement.

The LiteraryVirginia Public School Construction and Capital Projects Fund shall be held and administered by the Board of Education in such manner as may be provided by law. The General Assembly may authorize the Board to borrow other funds against assets of the LiteraryVirginia Public School Construction and Capital Projects Fund as collateral, such borrowing not to involve the full faith and credit of the Commonwealth.

The principal of the Fund shall include assets of the Fund in other funds or authorities which are repayable to the Fund.