Taxpayer Surplus Relief Fund; established to provide tax relief. (HB1967)

Introduced By

Del. Jimmie Massie (R-Richmond)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Excess funds in the Revenue Stabilization Fund. Establishes a mechanism to provide tax relief to Virginia taxpayers when the Auditor of Public Accounts determines the Revenue Stabilization Fund has reached its maximum size as provided in the Constitution of Virginia. The excess funds must equal at least $50 million and will be deposited in a special nonreverting fund titled the Virginia Taxpayer Surplus Relief Fund and must be used by the next session of the General Assembly to provide tax relief to low- and middle-income taxpayers throughout the Commonwealth. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/13/2009Committee
01/13/2009Prefiled and ordered printed; offered 01/14/09 098357617
01/13/2009Referred to Committee on Appropriations
02/05/2009Impact statement from DPB (HB1967)
02/10/2009Left in Appropriations

Comments

Virginia Interfaith Center for Public Policy, tracking this bill in Photosynthesis, notes:

The Virginia Interfaith Center opposes this bill.