HB 877 Comptroller; assignment of general fund balance remaining at year end.
Mark D. Sickles | all patrons    ...    notes
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Summary as introduced:

Assignment of general fund balance remaining at year end.  Changes current law for the assignment of any year-end general fund surplus. The surplus would first be used for any Revenue Stabilization Fund deposit. Next, 30 percent of the remaining amount of the surplus would be set aside as additional contributions (i) for defined benefit retirement plans maintained by the Virginia Retirement System if the ratio of the actuarial assets to actuarial liabilities of any such plan is less than 0.80 and (ii) to the retirement plans of certain employees of public institutions of higher education who elected to be covered for retirement purposes under an optional defined contribution retirement plan in lieu of the Virginia Retirement System defined benefit retirement plan, if certain minimum contributions have not been made to such optional retirement plans. Any general fund balance remaining would then be set aside as provided under current law.

Full text:
01/11/12  House: Prefiled and ordered printed; offered 01/11/12 12104039D  pdf | impact statement

Status:
01/11/12  House: Prefiled and ordered printed; offered 01/11/12 12104039D
01/11/12  House: Referred to Committee on Appropriations
01/16/12  House: Assigned App. sub: Technology Oversight & Government Activities
02/20/12  House: Left in Appropriations