Source: https://budget.lis.virginia.gov/amendment/2016/1/SB29/Introduced/FA/3-1.01/1s/
Timestamp: 2020-06-07 00:09:00
Document Index: 576688613

Matched Legal Cases: ['art 3', '§ 58', '§ 58', '§ 58', '§ 58', '§ 58', '§ 17', '§4']

3-1.01#1s (Interfund Transfers) ABC Transfer of Net Profits. SB29 - Floor Approved
Bill Order » Item 3-1.01 #1s
ABC Transfer of Net Profits (language only)
Item 3-1.01 #1s
Page 207, line 47, strike "80,200,000" and insert "84,000,000".
(This amendment increases the transfer of net profits from the Department of Alcoholic Beverage Control to the general fund by $3,800,000 in Fiscal Year 2016. A companion amendment to Part 3 in Senate Bill 30 increases the transfer of net profits in Fiscal Years 2017 and 2018.)
2.a. Transfers of net profits from the Alcoholic Beverage Control Enterprise Fund to the general fund shall be made four times a year, and such transfers shall be made within fifty (50) days of the close of each quarter. The transfer of fourth quarter profits shall be estimated and made in the month of June. In the event actual net profits are less than the estimate transferred in June, the difference shall be deducted from the net profits of the next quarter and the resulting sum transferred to the general fund. Distributions to localities shall be made within fifty (50) days of the close of each quarter. Net profits are estimated at $83,300,000 the first year and $80,200,000 the second year.
D. The provisions of Chapter 6 of Title 58.1, Code of Virginia notwithstanding, the State Comptroller shall transfer to the general fund from the special fund titled "Collections of Local Sales Taxes" a proportionate share of the costs attributable to increased local sales and use tax compliance efforts, the Property Tax Unit, and State Land Evaluation Advisory Committee (SLEAC) services by the Department of Taxation estimated at $5,540,285 the first year and $5,540,285 $5,511,428 the second year.
E. The State Comptroller shall transfer to the general fund from the Transportation Trust Fund a proportionate share of the costs attributable to increased sales and use tax compliance efforts and revenue forecasting for the Transportation Trust Fund by the Department of Taxation estimated at $2,765,777 the first year and $2,765,777 $2,783,614 the second year.
F. On or before June 30 of each year, the State Comptroller shall transfer $6,233,551 the first year and $6,116,866 the second year to the general fund the following amounts from the agencies and fund sources listed below, for expenses incurred by central service agencies:
$6,233,551
$6,116,866
G.1. The State Comptroller shall transfer to the Lottery Proceeds Fund established pursuant to § 58.1-4022.1, Code of Virginia, an amount estimated at $557,555,450 the first year and $531,667,925 $538,955,547 the second year, from the Virginia Lottery Fund. The transfer each year shall be made in two parts: (1) on or before January 1 of each year, the State Comptroller shall transfer the balance of the Virginia Lottery Fund for the first five months of the fiscal year and (2) thereafter, the transfer will be made on a monthly basis. Prior to June 20 of each year, the Virginia Lottery Director shall estimate the amount of profits in the Virginia Lottery Fund for the month of June and shall notify the State Comptroller so that the estimated profits can be transferred to the Lottery Proceeds Fund prior to June 22.
K.1. Not later than 30 days after the close of each quarter during the biennium, the State Comptroller shall transfer, notwithstanding the allotment specified in § 58.1-1410, Code of Virginia, funds collected pursuant to § 58.1-1402, Code of Virginia, from the general fund to the Game Protection Fund. This transfer shall not exceed $1,700,000 the first year and $2,000,000 $4,700,000 the second year.
M. Not later than thirty days after the close of each quarter during the biennium, the State Comptroller shall transfer to the Game Protection Fund the general fund revenues collected pursuant to § 58.1-638 E, Code of Virginia. Notwithstanding § 58.1-638 E, this transfer shall not exceed $8,270,640 the first year and $8,000,000 the second year.
O. On or before June 30 each year, the State Comptroller shall transfer to the general fund $4,589,914 the first year and $5,089,914 the second year from the Court Debt Collection Program Fund at the Department of Taxation.
P. On or before June 30 each year, the State Comptroller shall transfer to the general fund $8,900,000 the first year and $7,400,000 the second year from the Department of Motor Vehicles' Uninsured Motorists Fund. These amounts shall be from the share that would otherwise have been transferred to the State Corporation Commission.
S. On or before June 30 each year, the State Comptroller shall transfer to the general fund $1,901,785 the first year and $2,464,585 the second year from operating efficiencies to be implemented by the Department of Alcoholic Beverage Control.
U. On or before June 30 each year, the State Comptroller shall transfer $600,000 the first year and $600,000 the second year to the general fund from the Land Preservation Fund (Fund 0216) at the Department of Taxation.
X. On or before June 30 each year the State Comptroller shall transfer all amounts collected for the fund created pursuant to § 17.1-275.12 of the Code of Virginia, to Items 339, 389, and 414 of this act, for the purposes enumerated in Section 17.1-275.12.
Z. The provisions of Chapter 6.2, Title 58.1, Code of Virginia, notwithstanding, on or before June 30 each year the State Comptroller shall transfer to the general fund from the proceeds of the Virginia Communications Sales and Use Tax (fund 0926), the Department of Taxation's indirect costs of administering this tax estimated at $127,864 the first year and $127,864 $134,894 the second year.
DD. On or before June 30, 2015, and June 30, 2016, the State Comptroller shall transfer amounts estimated at $5,000,000 the first year and $3,000,000 the second year to the general fund from unobligated nongeneral fund balances at the State Corporation Commission.
FF. The State Comptroller shall transfer in the second year $18,000,000 in nongeneral fund cash to the Virginia Retirement System, to be managed by VRS for the benefit of the Commonwealth's Attorneys Services Council, pursuant to Senate Bill 1360 and House Bill 2222 of the 2015 General Assembly.
GG.1. On or before June 30 the first year, the State Comptroller shall transfer to the general fund $31,070,647 from the Transportation Trust Fund, an amount equivalent to the unexpended balances remaining from the 2007 Transportation Initiative authorized in Chapter 847, 2007 Acts of Assembly.
JJ.1. As required by §4-1.05 b of Chapter 3, 2014 Special Session I, $105,062 in various inactive nongeneral fund accounts were reverted by the State Comptroller to the general fund in the first year and $66,111 were reverted in the second year.
KK. On or before June 30 each year, the State Comptroller shall transfer amounts estimated at $1,600,000 the first year and $300,000 the second year to the general fund from the Vehicle Emissions Inspection Program Fund (Fund 0919) at the Department of Environmental Quality.
LL. On or before June 30, 2015, the State Comptroller shall transfer an amount estimated at $300,000 from the Department of General Services' State Surplus Property Suspense Fund (0260) to the general fund. Out of this amount, the Comptroller shall transfer into the Federal Repayment Reserve Fund an amount estimated to be sufficient to pay the federal government in anticipation of a repayment resulting from this transfer. The State Comptroller shall notify the Director, Department of Planning and Budget of the final federal repayment transfer amount prior to making the transfer into the Federal Repayment Reserve Fund.
ZZ.1. On or before June 30 of each year, the State Comptroller shall transfer amounts estimated at $33,195,521 the first year and $2,075,000 the second year from the agencies and fund sources listed below to the general fund of the state treasury.
$7,294,971
Transfer FY 2016 balance from the insurance fraud fund
$33,195,521