SB1472
Revenue Stabilization and Revenue Reserve Fund; revenue reserves.
Status:
Enacted
Latest Action:
April 2, 2025
Acts of Assembly Chapter text (CHAP0635)
Chief Patron:
Louise Lucas (D)
Session:
2025 Regular Session
Summary
As Introduced. Revenue reserves and budgetary amendments.
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 derived from taxes on income and retail sales for the preceding three years. The bill also removes the requirement that the Governor ... (More) make increased deposits into the Revenue Stabilization Fund during periods of increased revenue collection. (Less)-
Bill History
- 01/17/2025 - Senate: Presented and ordered printed 25102888D
- 01/17/2025 - Senate: Referred to Committee on Finance and Appropriations
- 01/29/2025 - Senate: Reported from Finance and Appropriations (15-Y 0-N)
- 01/30/2025 - Senate: Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- 01/30/2025 - Senate: Rules suspended
- 01/30/2025 - Senate: Constitutional reading dispensed (on 1st reading) (39-Y 0-N 1-A)
- 01/30/2025 - Senate: Passed by for the day
- 01/31/2025 - Senate: Read second time and engrossed
- 01/31/2025 - Senate: Rules suspended
- 01/31/2025 - Senate: Constitutional reading dispensed (on 3rd reading) (40-Y 0-N)
- 01/31/2025 - Senate: Passed Senate (40-Y 0-N)
- 02/06/2025 - House: Placed on Calendar
- 02/06/2025 - House: Read first time
- 02/06/2025 - House: Referred to Committee on Appropriations
- 02/06/2025 - House: Assigned Approps sub: General Government and Capital Outlay
- 02/13/2025 - House: Placed on Appropriations Agenda
- 02/14/2025 - House: Reported from Appropriations with substitute (21-Y 0-N)
- 02/14/2025 - House: Committee substitute printed 25107330D-H1
- 02/18/2025 - Senate: Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- 02/18/2025 - House: Read second time
- 02/19/2025 - House: Moved from Uncontested Calendar to Regular Calendar
- 02/19/2025 - House: Read third time
- 02/19/2025 - House: Appropriations Substitute agreed to
- 02/19/2025 - House: Engrossed by House - committee substitute
- 02/19/2025 - House: Passed House with substitute (84-Y 13-N)
- 02/20/2025 - Senate: House substitute rejected by Senate (0-Y 39-N)
- 02/20/2025 - House: House insisted on substitute
- 02/20/2025 - House: House requested conference committee
- 02/20/2025 - Senate: Senate acceded to request (38-Y 0-N)
- 02/20/2025 - House: Conferees appointed by House
- 02/20/2025 - House: Delegates: Torian, Sickles, Austin
- 02/20/2025 - Senate: Conferees appointed by Senate
- 02/20/2025 - Senate: Senators: Lucas, Deeds, McDougle
- 02/21/2025 - Amended by conference committee
- 02/21/2025 - Senate: Conference substitute printed 25107953D-S1
- 02/21/2025 - Senate: Conference report agreed to by Senate (40-Y 0-N)
- 02/22/2025 - House: Conference report agreed to by House (84-Y 13-N)
- 02/25/2025 - Senate: Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- 03/07/2025 - Senate: Enrolled
- 03/07/2025 - Senate: Bill text as passed Senate and House (SB1472ER)
- 03/07/2025 - Senate: Fiscal Impact Statement from Department of Planning and Budget (SB1472)
- 03/07/2025 - House: Signed by Speaker
- 03/10/2025 - Senate: Signed by President
- 03/11/2025 - Senate: Enrolled Bill Communicated to Governor on March 11, 2025
- 03/11/2025 - Governor's Action Deadline 11:59 p.m., March 24, 2024
- 03/24/2025 - Governor's recommendation received by Senate
- 04/02/2025 - Senate: Senate concurred in Governor's recommendation (40-Y 0-N)
- 04/02/2025 - House: House concurred in Governor's recommendation (94-Y 2-N)
- 04/02/2025 - Governor's recommendation adopted
- 04/02/2025 - Senate: Reenrolled
- 04/02/2025 - Senate: Reenrolled bill text (SB1472ER2)
- 04/02/2025 - Senate: Signed by President as reenrolled
- 04/02/2025 - House: Signed by Speaker as reenrolled
- 04/02/2025 - House: Enacted, Chapter 635 (Effective 07/01/2025)
- 04/02/2025 - Acts of Assembly Chapter text (CHAP0635)
