VirginiaRevenue Stabilization and Revenue Reserve Fund; revenue reserves.
What it does
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.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 2Acts of Assembly Chapter text (CHAP0635)Latest
- Vote recorded Senate concurred in Governor's recommendation (40-Y 0-N). Result: pass.Upper
- Vote recorded House concurred in Governor's recommendation (94-Y 2-N). Result: pass.Lower
- Apr 2Enacted, Chapter 635 (Effective 07/01/2025)Major
- Apr 2Signed by Speaker as reenrolledTo Governor
- Apr 2Signed by President as reenrolledMajor
- Apr 2Reenrolled bill text (SB1472ER2)Minor
- Apr 2ReenrolledMinor
- Apr 2Governor Glenn Youngkin's recommendation adoptedBecame Law
- Apr 2House concurred in Governor's recommendation (94-Y 2-N)
- Apr 2Senate concurred in Governor's recommendation (40-Y 0-N)
- Mar 24Governor Glenn Youngkin's recommendation received by SenateMinor
- Mar 11Governor's Action Deadline 11:59 p.m., March 24, 2024Minor
- Mar 11Enrolled Bill Communicated to Governor on March 11, 2025Minor
- Mar 10Signed by PresidentMajor
- Mar 7Signed by SpeakerMajor
- Mar 7Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- Mar 7Bill text as passed Senate and House (SB1472ER)Major
- Mar 7EnrolledMinor
- Feb 25Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- Feb 22Conference report agreed to by House (84-Y 13-N)Minor
- Vote recorded Conference report agreed to by House (84-Y 13-N). Result: pass.Lower
- Feb 21Conference report agreed to by Senate (40-Y 0-N)Minor
- Vote recorded Conference report agreed to by Senate (40-Y 0-N). Result: pass.Upper
- Feb 21Conference substitute printed 25107953D-S1
- Feb 21Amended by conference committee
- Feb 20Senators: Lucas, Deeds, McDougle
- Vote recorded House substitute rejected by Senate (0-Y 39-N). Result: fail.Upper
- Vote recorded Senate acceded to request (38-Y 0-N). Result: pass.Upper
- Feb 20Conferees appointed by Senate
- Feb 20Delegates: Torian, Sickles, Austin
- Feb 20Conferees appointed by House
- Feb 20Senate acceded to request (38-Y 0-N)
- Feb 20House requested conference committeeMinor
- Feb 20House insisted on substituteMajor
- Feb 20House substitute rejected by Senate (0-Y 39-N)
- Feb 19Passed House with substitute (84-Y 13-N)Passed House
- Vote recorded Passed House with substitute (84-Y 13-N). Result: pass.Lower
- Feb 19Engrossed by House - committee substituteMajor
- Feb 19Appropriations Substitute agreed to
- Feb 19Read third timeMinor
- Feb 19Moved from Uncontested Calendar to Regular Calendar
- Feb 18Read second timeMinor
- Feb 18Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- Feb 14Committee substitute printed 25107330D-H1Major
- Vote recorded Reported from Appropriations with substitute (21-Y 0-N). Result: pass.Lower
- Feb 14Reported from Appropriations with substitute (21-Y 0-N)Minor
- Feb 6Assigned Approps sub: General Government and Capital OutlayMinor
- Feb 6Referred to Committee on AppropriationsMinor
- Feb 6Read first timeMinor
- Feb 6Placed on Calendar
- Jan 31Passed Senate (40-Y 0-N)Passed Senate
- Vote recorded Constitutional reading dispensed (on 3rd reading). Result: pass.Upper
- Vote recorded Passed Senate. Result: pass.Upper
- Jan 31Constitutional reading dispensed (on 3rd reading) (40-Y 0-N)
- Jan 31Rules suspended
- Jan 31Read second time and engrossedMinor
- Jan 30Passed by for the day
- Vote recorded Constitutional reading dispensed (on 1st reading) (39-Y 0-N 1-A). Result: pass.Upper
- Jan 30Constitutional reading dispensed (on 1st reading) (39-Y 0-N 1-A)
- Jan 30Rules suspended
- Jan 30Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- Jan 29Reported from Finance and Appropriations (15-Y 0-N)Minor
- Vote recorded Reported from Finance and Appropriations (15-Y 0-N). Result: pass.Upper
- Jan 17Referred to Committee on Finance and AppropriationsMinor
- Jan 17Presented and ordered printed 25102888DIntroduced
- Apr 2Acts of Assembly Chapter text (CHAP0635)Latest