{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-1503.3.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-1503.3.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-1503.3.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-1503.3.html"}],"law_id":56313,"edition_id":1,"section_id":56313,"structure_id":14185,"section_number":"2.2-1503.3","catch_line":"Reestimate of general fund revenues","history":"2003, c. 14.","full_text":"Within five business days after the preliminary close of the Commonwealth’s accounts at the end of each fiscal year, the State Comptroller shall submit to the Governor a comparison of the total of individual income, corporate income, and sales taxes collected for the fiscal year, with the totals of such taxes included in the official budget estimate for the fiscal year. If the comparison indicates that the total collection of such taxes as shown in the preliminary close is 1.0 percent or more below the total amount of such taxes as included in the official budget estimate for the fiscal year, the Governor shall prepare a reestimate of general fund revenues for the current biennium and the next biennium in accordance with the provisions of \u00a7 2.2-1503. The Governor’s reestimate shall be reported to the chairman of the Senate Committee on Finance and Appropriations and the chairmen of the Finance and Appropriation Committees of the House of Delegates not later than September 1 following the close of the fiscal year.","order_by":null,"text":{"0":{"id":206244,"text":"Within five business days after the preliminary close of the Commonwealth’s accounts at the end of each fiscal year, the State Comptroller shall submit to the Governor a comparison of the total of individual income, corporate income, and sales taxes collected for the fiscal year, with the totals of such taxes included in the official budget estimate for the fiscal year. If the comparison indicates that the total collection of such taxes as shown in the preliminary close is 1.0 percent or more below the total amount of such taxes as included in the official budget estimate for the fiscal year, the Governor shall prepare a reestimate of general fund revenues for the current biennium and the next biennium in accordance with the provisions of \u00a7 2.2-1503. The Governor’s reestimate shall be reported to the chairman of the Senate Committee on Finance and Appropriations and the chairmen of the Finance and Appropriation Committees of the House of Delegates not later than September 1 following the close of the fiscal year.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14185,"edition_id":1,"name":"Department of Planning and Budget","identifier":"15","label":"chapter","depth":4,"order_by":1,"parent_id":13092,"metadata":{},"date_created":"2026-06-26 03:47:10","date_modified":"2026-06-26 03:47:10","permalink":{"id":172941,"object_type":"structure","relational_id":14185,"identifier":"15","token":"2.2\/I\/C\/15","url":"\/2.2\/I\/C\/15\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13092,"edition_id":1,"name":"State Agencies Related to the General Operation of Government","identifier":"C","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:44:16","date_modified":"2026-06-26 03:44:16","permalink":{"id":172453,"object_type":"structure","relational_id":13092,"identifier":"C","token":"2.2\/I\/C","url":"\/2.2\/I\/C\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12784,"edition_id":1,"name":"Organization of State Government","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12749,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":171455,"object_type":"structure","relational_id":12784,"identifier":"I","token":"2.2\/I","url":"\/2.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12749,"edition_id":1,"name":"Administration of Government","identifier":"2.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":171453,"object_type":"structure","relational_id":12749,"identifier":"2.2","token":"2.2","url":"\/2.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":64095,"structure_id":14185,"section_number":"2.2-1500","catch_line":"Department of Planning and Budget created; appointment of Director; powers and duties","url":"\/2.2-1500\/","token":"2.2\/I\/C\/15\/2.2-1500","metadata":false},{"id":68418,"structure_id":14185,"section_number":"2.2-1501","catch_line":"Duties of Department","url":"\/2.2-1501\/","token":"2.2\/I\/C\/15\/2.2-1501","metadata":false},{"id":57330,"structure_id":14185,"section_number":"2.2-1501.1","catch_line":"Additional duties of Department; commercial activities list","url":"\/2.2-1501.1\/","token":"2.2\/I\/C\/15\/2.2-1501.1","metadata":false},{"id":71030,"structure_id":14185,"section_number":"2.2-1502","catch_line":"Establishing regulations for preplanning of capital outlay projects","url":"\/2.2-1502\/","token":"2.2\/I\/C\/15\/2.2-1502","metadata":false},{"id":78155,"structure_id":14185,"section_number":"2.2-1502.1","catch_line":"School efficiency review program","url":"\/2.2-1502.1\/","token":"2.2\/I\/C\/15\/2.2-1502.1","metadata":false},{"id":68140,"structure_id":14185,"section_number":"2.2-1503","catch_line":"Filing of six-year revenue plan by Governor","url":"\/2.2-1503\/","token":"2.2\/I\/C\/15\/2.2-1503","metadata":false},{"id":55362,"structure_id":14185,"section_number":"2.2-1503.1","catch_line":"Filing of six-year financial outline by Governor","url":"\/2.2-1503.1\/","token":"2.2\/I\/C\/15\/2.2-1503.1","metadata":false},{"id":78679,"structure_id":14185,"section_number":"2.2-1503.2","catch_line":"Repealed","url":"\/2.2-1503.2\/","token":"2.2\/I\/C\/15\/2.2-1503.2","metadata":false},{"id":56313,"structure_id":14185,"section_number":"2.2-1503.3","catch_line":"Reestimate of general fund revenues","url":"\/2.2-1503.3\/","token":"2.2\/I\/C\/15\/2.2-1503.3","metadata":false},{"id":78334,"structure_id":14185,"section_number":"2.2-1504","catch_line":"Estimates by state agencies of amounts needed","url":"\/2.2-1504\/","token":"2.2\/I\/C\/15\/2.2-1504","metadata":false},{"id":68134,"structure_id":14185,"section_number":"2.2-1505","catch_line":"Estimates by nonstate agencies of amounts needed","url":"\/2.2-1505\/","token":"2.2\/I\/C\/15\/2.2-1505","metadata":false},{"id":65675,"structure_id":14185,"section_number":"2.2-1506","catch_line":"Estimates of financial needs of General Assembly and judiciary","url":"\/2.2-1506\/","token":"2.2\/I\/C\/15\/2.2-1506","metadata":false},{"id":57408,"structure_id":14185,"section_number":"2.2-1507","catch_line":"Participation of certain agencies in budget development process of other agencies","url":"\/2.2-1507\/","token":"2.2\/I\/C\/15\/2.2-1507","metadata":false},{"id":57376,"structure_id":14185,"section_number":"2.2-1508","catch_line":"Submission of executive budget to General Assembly","url":"\/2.2-1508\/","token":"2.2\/I\/C\/15\/2.2-1508","metadata":false},{"id":59447,"structure_id":14185,"section_number":"2.2-1509","catch_line":"Budget Bill","url":"\/2.2-1509\/","token":"2.2\/I\/C\/15\/2.2-1509","metadata":false},{"id":84828,"structure_id":14185,"section_number":"2.2-1509.1","catch_line":"Budget bill to include appropriations for capital outlay projects","url":"\/2.2-1509.1\/","token":"2.2\/I\/C\/15\/2.2-1509.1","metadata":false},{"id":75071,"structure_id":14185,"section_number":"2.2-1509.2","catch_line":"Budget Bill to include amounts diverted from Commonwealth Transportation Fund","url":"\/2.2-1509.2\/","token":"2.2\/I\/C\/15\/2.2-1509.2","metadata":false},{"id":62081,"structure_id":14185,"section_number":"2.2-1509.3","catch_line":"Budget bill to include appropriations for major information technology projects","url":"\/2.2-1509.3\/","token":"2.2\/I\/C\/15\/2.2-1509.3","metadata":false},{"id":80925,"structure_id":14185,"section_number":"2.2-1509.4","catch_line":"Budget bill to include an appropriation for land preservation","url":"\/2.2-1509.4\/","token":"2.2\/I\/C\/15\/2.2-1509.4","metadata":false},{"id":74586,"structure_id":14185,"section_number":"2.2-1510","catch_line":"Publication of budget highlights; public hearings","url":"\/2.2-1510\/","token":"2.2\/I\/C\/15\/2.2-1510","metadata":false},{"id":72221,"structure_id":14185,"section_number":"2.2-1511","catch_line":"Consideration of budget by committees","url":"\/2.2-1511\/","token":"2.2\/I\/C\/15\/2.2-1511","metadata":false},{"id":70365,"structure_id":14185,"section_number":"2.2-1512","catch_line":"Financial statements by Comptroller","url":"\/2.2-1512\/","token":"2.2\/I\/C\/15\/2.2-1512","metadata":false},{"id":83108,"structure_id":14185,"section_number":"2.2-1513","catch_line":"Submission of additional information to legislative committees","url":"\/2.2-1513\/","token":"2.2\/I\/C\/15\/2.2-1513","metadata":false},{"id":81573,"structure_id":14185,"section_number":"2.2-1514","catch_line":"(Contingent effective date) Commitment of general fund for nonrecurring expenditures","url":"\/2.2-1514\/","token":"2.2\/I\/C\/15\/2.2-1514","metadata":false}],"previous_section":{"id":78679,"structure_id":14185,"section_number":"2.2-1503.2","catch_line":"Repealed","url":"\/2.2-1503.2\/","token":"2.2\/I\/C\/15\/2.2-1503.2","metadata":false},"next_section":{"id":78334,"structure_id":14185,"section_number":"2.2-1504","catch_line":"Estimates by state agencies of amounts needed","url":"\/2.2-1504\/","token":"2.2\/I\/C\/15\/2.2-1504","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-1503.3\/","history_text":"

This law was first created in 2003. The record of its establishment is cataloged in chapter 14<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":68140,"section_number":"2.2-1503","catch_line":"Filing of six-year revenue plan by Governor","order_by":null,"url":"\/2.2-1503\/"}],"permalink":{"id":172975,"object_type":"law","relational_id":56313,"identifier":"2.2-1503.3","token":"2.2\/I\/C\/15\/2.2-1503.3","url":"\/2.2-1503.3\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-1503.3\/","token":"2.2\/I\/C\/15\/2.2-1503.3","dublin_core":{"Title":"Reestimate of general fund revenues","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-1503.3","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Within five business days after the preliminary close of the Commonwealth’s accounts at the end of each fiscal year, the State Comptroller shall submit to the Governor a comparison of the total of individual income, corporate income, and sales taxes collected for the fiscal year, with the totals of such taxes included in the official budget estimate for the fiscal year. If the comparison indicates that the total collection of such taxes as shown in the preliminary close is 1.0 percent or more below the total amount of such taxes as included in the official budget estimate for the fiscal year, the Governor shall prepare a reestimate of general fund revenues for the current biennium and the next biennium in accordance with the provisions of \u00a7 2.2-1503<\/a>. The Governor’s reestimate shall be reported to the chairman of the Senate Committee on Finance and Appropriations and the chairmen of the Finance and Appropriation Committees of the House of Delegates not later than September 1 following the close of the fiscal year.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREESTIMATE OF GENERAL FUND REVENUES (\u00a7 2.2-1503.3)\n\nWithin five business days after the preliminary close of the\nCommonwealth’s accounts at the end of each fiscal year, the State\nComptroller shall submit to the Governor a comparison of the total of individual\nincome, corporate income, and sales taxes collected for the fiscal year, with\nthe totals of such taxes included in the official budget estimate for the fiscal\nyear. If the comparison indicates that the total collection of such taxes as\nshown in the preliminary close is 1.0 percent or more below the total amount of\nsuch taxes as included in the official budget estimate for the fiscal year, the\nGovernor shall prepare a reestimate of general fund revenues for the current\nbiennium and the next biennium in accordance with the provisions of \u00a7 2.2-1503.\nThe Governor’s reestimate shall be reported to the chairman of the Senate\nCommittee on Finance and Appropriations and the chairmen of the Finance and\nAppropriation Committees of the House of Delegates not later than September 1\nfollowing the close of the fiscal year.\n\nHISTORY: 2003, c. 14.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}