VirginiaSB14722025 Regular SessionSenate

Revenue Stabilization and Revenue Reserve Fund; revenue reserves.

Sponsored By: L. Louise Lucas (Democratic)

Failed

Summary

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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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • L. Louise Lucas

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 535 • No: 67

Senate vote • 4/2/2025

Senate concurred in Governor's recommendation

Yes: 40 • No: 0

House vote • 4/2/2025

House concurred in Governor's recommendation

Yes: 94 • No: 2

House vote • 2/22/2025

Conference report agreed to by House

Yes: 84 • No: 13

Senate vote • 2/21/2025

Conference report agreed to by Senate

Yes: 40 • No: 0

Senate vote • 2/20/2025

House substitute rejected by Senate

Yes: 0 • No: 39

Senate vote • 2/20/2025

Senate acceded to request Block Vote

Yes: 38 • No: 0

House vote • 2/19/2025

Passed House with substitute

Yes: 84 • No: 13

House vote • 2/14/2025

Reported from Appropriations with substitute

Yes: 21 • No: 0

Senate vote • 1/31/2025

Constitutional reading dispensed Block Vote (on 3rd reading)

Yes: 40 • No: 0

Senate vote • 1/31/2025

Passed Senate Block Vote

Yes: 40 • No: 0

Senate vote • 1/30/2025

Constitutional reading dispensed Block Vote (on 1st reading)

Yes: 39 • No: 0 • Other: 1

Senate vote • 1/29/2025

Reported from Finance and Appropriations

Yes: 15 • No: 0

Actions Timeline

  1. Senate concurred in Governor's recommendation (40-Y 0-N)

    4/2/2025Senate
  2. Acts of Assembly Chapter text (CHAP0635)

    4/2/2025Governor
  3. Enacted, Chapter 635 (Effective 07/01/2025)

    4/2/2025House
  4. Signed by Speaker as reenrolled

    4/2/2025House
  5. Signed by President as reenrolled

    4/2/2025Senate
  6. Reenrolled bill text (SB1472ER2)

    4/2/2025Senate
  7. Reenrolled

    4/2/2025Senate
  8. Governor's recommendation adopted

    4/2/2025Governor
  9. House concurred in Governor's recommendation (94-Y 2-N)

    4/2/2025House
  10. Governor's recommendation received by Senate

    3/24/2025Governor
  11. Governor's Action Deadline 11:59 p.m., March 24, 2024

    3/11/2025Governor
  12. Enrolled Bill Communicated to Governor on March 11, 2025

    3/11/2025Senate
  13. Signed by President

    3/10/2025Senate
  14. Fiscal Impact Statement from Department of Planning and Budget (SB1472)

    3/7/2025Senate
  15. Bill text as passed Senate and House (SB1472ER)

    3/7/2025Senate
  16. Enrolled

    3/7/2025Senate
  17. Signed by Speaker

    3/7/2025House
  18. Fiscal Impact Statement from Department of Planning and Budget (SB1472)

    2/25/2025Senate
  19. Conference report agreed to by House (84-Y 13-N)

    2/22/2025House
  20. Conference report agreed to by Senate (40-Y 0-N)

    2/21/2025Senate
  21. Amended by conference committee

    2/21/2025
  22. Conference substitute printed 25107953D-S1

    2/21/2025Senate
  23. Senate acceded to request Block Vote (38-Y 0-N)

    2/20/2025Senate
  24. House substitute rejected by Senate (0-Y 39-N)

    2/20/2025Senate
  25. Senators: Lucas, Deeds, McDougle

    2/20/2025Senate

Bill Text

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