HB542 - Revenue Stabilization Fund and Revenue Reserve Fund; required deposits.
Virginia - 2024 Regular Session
Introduced byJoseph P. McNamara
Last updated 9 months ago
1 Co-Sponsor
Revenue Stabilization Fund and Revenue Reserve Fund; required deposits. Requires deposit of any revenues that would be required to be deposited in the Revenue Stabilization Fund or Revenue Reserve Fund to be deposited in the Taxpayer Relief Fund, established by the bill, in certain circumstances. Such deposits shall be made if the combined balance in the Revenue Stabilization Fund or Revenue Reserve Fund exceeds 15 percent of the Commonwealth's average annual tax revenues derived from taxes on income and retail sales.
STATUS
Introduced
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