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VA SB610
VA SB610Revenue reserves and budgetary amendments; withdrawal from Revenue Stabilization Fund.
summary
Introduced
01/14/2026
01/14/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Revenue reserves and budgetary amendments. Provides that any withdrawal from the Revenue Stabilization Fund made to comply with the 20 percent combined amount limitation for the Revenue Stabilization Fund and the Revenue Reserve Fund shall be assigned by the Comptroller and be considered a portion of the committed fund balance of the general fund of the state treasury, subject to the provisions of the general appropriation act.
AI Summary
This bill amends existing law to clarify how certain funds are accounted for within the state treasury. Specifically, it states that any money withdrawn from the Revenue Stabilization Fund (a fund designed to help smooth out state revenue fluctuations) to ensure the combined total in both the Revenue Stabilization Fund and the Revenue Reserve Fund does not exceed a 20 percent limit of average annual tax revenues (based on income and retail sales taxes), will be officially designated by the Comptroller and treated as part of the general fund's committed fund balance. This means these withdrawn funds will then be subject to the rules and regulations outlined in the general appropriation act, which is the law that details how state money can be spent.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Left in Finance and Appropriations (on 02/17/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/SB610 |
| BillText | https://lis.virginia.gov/bill-details/20261/SB610/text/SB610 |
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