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Revenue reserves of the Revenue Stabilization Fund and the Revenue Reserve Fund. Increases the maximum combined amount in the Revenue Stabilization Fund and the Revenue Reserve Fund from 15 percent to 20 percent of the Commonwealth's average annual tax revenues, provided that such combined amount shall only exceed 15 percent if the balance of the Revenue Reserve Fund does not exceed eight percent of such revenues. The bill also removes the requirement that the Governor make increased deposits into the Revenue Stabilization Fund during periods of increased revenue collection.
Introduced
Jan 17, 2025
Last Action
Apr 2, 2025
Session
VA 2025
Sponsors
1 primary · 0 co
Senate concurred in Governor's recommendation (40-Y 0-N)
Acts of Assembly Chapter text (CHAP0635)
Enacted, Chapter 635 (Effective 07/01/2025)
Signed by Speaker as reenrolled
Signed by President as reenrolled
Reenrolled bill text (SB1472ER2)
Reenrolled
Governor's recommendation adopted
House concurred in Governor's recommendation (94-Y 2-N)
Governor's recommendation received by Senate
Enrolled Bill Communicated to Governor on March 11, 2025
Governor's Action Deadline 11:59 p.m., March 24, 2024
Signed by President
Bill text as passed Senate and House (SB1472ER)
Signed by Speaker
Fiscal Impact Statement from Department of Planning and Budget (SB1472)
Enrolled
Fiscal Impact Statement from Department of Planning and Budget (SB1472)
Conference report agreed to by House (84-Y 13-N)
Conference substitute printed 25107953D-S1
Conference report agreed to by Senate (40-Y 0-N)
Amended by conference committee
Senate acceded to request (38-Y 0-N)
House substitute rejected by Senate (0-Y 39-N)
House insisted on substitute
House requested conference committee
Conferees appointed by House
Delegates: Torian, Sickles, Austin
Conferees appointed by Senate
Senators: Lucas, Deeds, McDougle
Appropriations Substitute agreed to
Passed House with substitute (84-Y 13-N)
Engrossed by House - committee substitute
Read third time
Moved from Uncontested Calendar to Regular Calendar
Fiscal Impact Statement from Department of Planning and Budget (SB1472)
Read second time
Committee substitute printed 25107330D-H1
Reported from Appropriations with substitute (21-Y 0-N)
Placed on Calendar
Assigned Approps sub: General Government and Capital Outlay
Referred to Committee on Appropriations
Read first time
Read second time and engrossed
Passed Senate (40-Y 0-N)
Constitutional reading dispensed (on 3rd reading) (40-Y 0-N)
Rules suspended
Fiscal Impact Statement from Department of Planning and Budget (SB1472)
Passed by for the day
Constitutional reading dispensed (on 1st reading) (39-Y 0-N 1-A)
Rules suspended
Reported from Finance and Appropriations (15-Y 0-N)
Referred to Committee on Finance and Appropriations
Presented and ordered printed 25102888D
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Acts of Assembly Chapter text (CHAP0635)
L. Louise Lucas