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2015 SESSION

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15104429D
SENATE BILL NO. 1173 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the Senate Committee on Finance on January 28, 2015) (Patron Prior to Substitute--Senator Carrico) A BILL relating to the Virginia Retirement System; revocation of participation by the Town of Damascus.

Be it enacted by the General Assembly of Virginia:

1. § 1. That notwithstanding the provisions of § 51.1-139 of the Code of Virginia and based on its not having made contributions to the Virginia Retirement System for a period of 25 consecutive years, the Town of Damascus may revoke, in writing, its agreement to contribute to the Virginia Retirement System on behalf of any eligible employees for creditable service rendered on or after the date of the revocation.