{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-1831.3.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-1831.3.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-1831.3.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-1831.3.html"}],"law_id":70603,"edition_id":1,"section_id":70603,"structure_id":16039,"section_number":"2.2-1831.3","catch_line":"Commitment of funds for Revenue Reserve Fund","history":"2018, c. 827; 2019, c. 347; 2025, c. 635.","full_text":"A\n\nOn or before November 1 of each year, the Auditor of Public Accounts shall report to the General Assembly the total general fund revenues collected in the most recently ended fiscal year. The Auditor of Public Accounts shall, at the same time, provide his report on the amount that could be paid into the Fund and the amount by which the amount in the Fund is less than the maximum amount permitted.B\n\nWhenever there is a fiscal year in which general fund revenues do not result in a mandatory deposit to the Revenue Stabilization Fund required by Article X, § 8 of the Constitution of Virginia, the Comptroller shall, at the end of the fiscal year, commit within his annual report pursuant to § 2.2-813 the amount of the general fund revenue in excess of the official forecast for that prior fiscal year, less any deposit to the Virginia Water Quality Improvement Fund pursuant to subsection A of § 10.1-2128, for deposit into the Fund. Such amount committed for deposit into the Fund shall not exceed one percent of the total general fund revenues for the prior fiscal year.C\n\nThe Governor shall include in “The Budget Bill” pursuant to § 2.2-1509 recommended appropriations from the general fund or recommended amendments to general fund appropriations in the general appropriation act in effect at that time an amount for deposit into the Fund at least equal to the amounts committed by the Comptroller and confirmed by the Auditor of Public Accounts for such purposes pursuant to the provisions of subsection B. A schedule of deposits may be provided in the appropriation act.D\n\nThe State Comptroller shall draw such warrants as appropriated, and the State Treasurer shall deposit such warrants into the Fund. No withdrawal shall be made from the Fund except in accordance with § 2.2-1831.4.E\n\nFor the purposes of the Comptroller’s preliminary and final annual reports as required by § 2.2-813, all balances remaining in the Fund on June 30 of each fiscal year shall be considered to be a portion of the fund balance of the general fund of the state treasury. However, if any amounts accrue, such as through interest or dividends, to the credit of the Fund in excess of the limitation calculated by the Auditor of Public Accounts as provided in subsection F, any excess shall be paid into the general fund either from the Fund or from the Revenue Stabilization Fund created pursuant to § 2.2-1828.F\n\nThe combined amount in the Fund and the Revenue Stabilization Fund created pursuant to § 2.2-1828 shall not exceed 15 percent of the Commonwealth’s average annual tax revenues derived from taxes on income and retail sales as certified by the Auditor of Public Accounts for the three fiscal years immediately preceding. However, the 15 percent maximum may be exceeded if the balance of the Fund does not exceed 10 percent of such revenues.","order_by":null,"text":{"0":{"id":254736,"text":"On or before November 1 of each year, the Auditor of Public Accounts shall report to the General Assembly the total general fund revenues collected in the most recently ended fiscal year. The Auditor of Public Accounts shall, at the same time, provide his report on the amount that could be paid into the Fund and the amount by which the amount in the Fund is less than the maximum amount permitted.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":254737,"text":"Whenever there is a fiscal year in which general fund revenues do not result in a mandatory deposit to the Revenue Stabilization Fund required by Article X, § 8 of the Constitution of Virginia, the Comptroller shall, at the end of the fiscal year, commit within his annual report pursuant to § 2.2-813 the amount of the general fund revenue in excess of the official forecast for that prior fiscal year, less any deposit to the Virginia Water Quality Improvement Fund pursuant to subsection A of § 10.1-2128, for deposit into the Fund. Such amount committed for deposit into the Fund shall not exceed one percent of the total general fund revenues for the prior fiscal year.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":254738,"text":"The Governor shall include in “The Budget Bill” pursuant to § 2.2-1509 recommended appropriations from the general fund or recommended amendments to general fund appropriations in the general appropriation act in effect at that time an amount for deposit into the Fund at least equal to the amounts committed by the Comptroller and confirmed by the Auditor of Public Accounts for such purposes pursuant to the provisions of subsection B. A schedule of deposits may be provided in the appropriation act.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":254739,"text":"The State Comptroller shall draw such warrants as appropriated, and the State Treasurer shall deposit such warrants into the Fund. No withdrawal shall be made from the Fund except in accordance with § 2.2-1831.4.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"4":{"id":254740,"text":"For the purposes of the Comptroller’s preliminary and final annual reports as required by § 2.2-813, all balances remaining in the Fund on June 30 of each fiscal year shall be considered to be a portion of the fund balance of the general fund of the state treasury. However, if any amounts accrue, such as through interest or dividends, to the credit of the Fund in excess of the limitation calculated by the Auditor of Public Accounts as provided in subsection F, any excess shall be paid into the general fund either from the Fund or from the Revenue Stabilization Fund created pursuant to § 2.2-1828.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"5":{"id":254741,"text":"The combined amount in the Fund and the Revenue Stabilization Fund created pursuant to § 2.2-1828 shall not exceed 15 percent of the Commonwealth’s average annual tax revenues derived from taxes on income and retail sales as certified by the Auditor of Public Accounts for the three fiscal years immediately preceding. However, the 15 percent maximum may be exceeded if the balance of the Fund does not exceed 10 percent of such revenues.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E"}},"ancestry":[{"id":16039,"edition_id":1,"name":"Revenue Reserve Fund","identifier":"4.1","label":"article","depth":5,"order_by":1,"parent_id":13093,"metadata":{},"date_created":"2026-06-26 04:04:30","date_modified":"2026-06-26 04:04:30","permalink":{"id":173283,"object_type":"structure","relational_id":16039,"identifier":"4.1","token":"2.2\/I\/C\/18\/4.1","url":"\/2.2\/I\/C\/18\/4.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13093,"edition_id":1,"name":"Department of the Treasury","identifier":"18","label":"chapter","depth":4,"order_by":1,"parent_id":13092,"metadata":{},"date_created":"2026-06-26 03:44:16","date_modified":"2026-06-26 03:44:16","permalink":{"id":173141,"object_type":"structure","relational_id":13093,"identifier":"18","token":"2.2\/I\/C\/18","url":"\/2.2\/I\/C\/18\/","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":78914,"structure_id":16039,"section_number":"2.2-1831.1","catch_line":"Definitions","url":"\/2.2-1831.1\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.1","metadata":false},{"id":77341,"structure_id":16039,"section_number":"2.2-1831.2","catch_line":"Creation of Revenue Reserve Fund","url":"\/2.2-1831.2\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.2","metadata":false},{"id":70603,"structure_id":16039,"section_number":"2.2-1831.3","catch_line":"Commitment of funds for Revenue Reserve Fund","url":"\/2.2-1831.3\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.3","metadata":false},{"id":73833,"structure_id":16039,"section_number":"2.2-1831.4","catch_line":"Decline in forecasted revenues","url":"\/2.2-1831.4\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.4","metadata":false},{"id":62903,"structure_id":16039,"section_number":"2.2-1831.5","catch_line":"Sources or components of general fund revenues","url":"\/2.2-1831.5\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.5","metadata":false}],"previous_section":{"id":77341,"structure_id":16039,"section_number":"2.2-1831.2","catch_line":"Creation of Revenue Reserve Fund","url":"\/2.2-1831.2\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.2","metadata":false},"next_section":{"id":73833,"structure_id":16039,"section_number":"2.2-1831.4","catch_line":"Decline in forecasted revenues","url":"\/2.2-1831.4\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.4","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-1831.3\/","history_text":"

This law was first created in 2018. The record of its establishment is cataloged in chapter 827<\/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. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2019, chapter 347<\/a>; in 2025, chapter 635<\/a>.<\/p>","references":false,"refers_to":[{"id":84120,"section_number":"10.1-2128","catch_line":"Virginia Water Quality Improvement Fund established; purposes","order_by":null,"url":"\/10.1-2128\/"},{"id":59447,"section_number":"2.2-1509","catch_line":"Budget Bill","order_by":null,"url":"\/2.2-1509\/"},{"id":57263,"section_number":"2.2-1828","catch_line":"Creation of Revenue Stabilization Fund","order_by":null,"url":"\/2.2-1828\/"},{"id":75994,"section_number":"2.2-813","catch_line":"Annual report of Comptroller to Governor","order_by":null,"url":"\/2.2-813\/"}],"permalink":{"id":173293,"object_type":"law","relational_id":70603,"identifier":"2.2-1831.3","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.3","url":"\/2.2-1831.3\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-1831.3\/","token":"2.2\/I\/C\/18\/4.1\/2.2-1831.3","dublin_core":{"Title":"Commitment of funds for Revenue Reserve Fund","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-1831.3","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> On or before November 1 of each year, the Auditor of Public Accounts shall report to the General Assembly the total general fund<\/span> revenues collected in the most recently ended fiscal year. The Auditor of Public Accounts shall, at the same time, provide his report on the amount that could be paid into the Fund<\/span> and the amount by which the amount in the Fund<\/span> is less than the maximum amount permitted. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Whenever there is a fiscal year in which general fund<\/span> revenues do not result in a mandatory deposit to the Revenue Stabilization Fund<\/span> required by Article X, § 8 of the Constitution of Virginia, the Comptroller shall, at the end of the fiscal year, commit within his annual report pursuant to § 2.2-813<\/a> the amount of the general fund<\/span> revenue in excess of the official forecast for that prior fiscal year, less any deposit to the Virginia Water Quality Improvement Fund<\/span> pursuant to subsection A of § 10.1-2128<\/a>, for deposit into the Fund<\/span>. Such amount committed for deposit into the Fund<\/span> shall not exceed one percent of the total general fund<\/span> revenues for the prior fiscal year. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Governor shall include in “The Budget Bill<\/span>” pursuant to § 2.2-1509<\/a> recommended appropriations from the general fund<\/span> or recommended amendments to general fund<\/span> appropriations in the general appropriation act in effect at that time an amount for deposit into the Fund<\/span> at least equal to the amounts committed by the Comptroller and confirmed by the Auditor of Public Accounts for such purposes pursuant to the provisions of subsection B. A schedule of deposits may be provided in the appropriation act. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The State Comptroller shall draw such warrants as appropriated, and the State Treasurer shall deposit such warrants into the Fund<\/span>. No withdrawal shall be made from the Fund<\/span> except in accordance with § 2.2-1831.4<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> For the purposes of the Comptroller’s preliminary and final annual reports as required by § 2.2-813<\/a>, all balances remaining in the Fund<\/span> on June 30 of each fiscal year shall be considered to be a portion of the fund<\/span> balance of the general fund<\/span> of the state treasury. However, if any amounts accrue, such as through interest or dividends, to the credit of the Fund<\/span> in excess of the limitation calculated by the Auditor of Public Accounts as provided in subsection F, any excess shall be paid into the general fund<\/span> either from the Fund<\/span> or from the Revenue Stabilization Fund<\/span> created pursuant to § 2.2-1828<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> The combined amount in the Fund<\/span> and the Revenue Stabilization Fund<\/span> created pursuant to § 2.2-1828<\/a> shall not exceed 15 percent of the Commonwealth’s average annual tax revenues derived from taxes on income and retail sales as certified by the Auditor of Public Accounts for the three fiscal years immediately preceding. However, the 15 percent maximum may be exceeded if the balance of the Fund<\/span> does not exceed 10 percent of such revenues. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCOMMITMENT OF FUNDS FOR REVENUE RESERVE FUND (\u00a7 2.2-1831.3)\n\nA. On or before November 1 of each year, the Auditor of Public Accounts shall\nreport to the General Assembly the total general fund revenues collected in the\nmost recently ended fiscal year. The Auditor of Public Accounts shall, at the\nsame time, provide his report on the amount that could be paid into the Fund and\nthe amount by which the amount in the Fund is less than the maximum amount\npermitted.\n\nB. Whenever there is a fiscal year in which general fund revenues do not result\nin a mandatory deposit to the Revenue Stabilization Fund required by Article X,\n§ 8 of the Constitution of Virginia, the Comptroller shall, at the end of\nthe fiscal year, commit within his annual report pursuant to § 2.2-813 the\namount of the general fund revenue in excess of the official forecast for that\nprior fiscal year, less any deposit to the Virginia Water Quality Improvement\nFund pursuant to subsection A of § 10.1-2128, for deposit into the Fund.\nSuch amount committed for deposit into the Fund shall not exceed one percent of\nthe total general fund revenues for the prior fiscal year.\n\nC. The Governor shall include in “The Budget Bill” pursuant to\n§ 2.2-1509 recommended appropriations from the general fund or recommended\namendments to general fund appropriations in the general appropriation act in\neffect at that time an amount for deposit into the Fund at least equal to the\namounts committed by the Comptroller and confirmed by the Auditor of Public\nAccounts for such purposes pursuant to the provisions of subsection B. A\nschedule of deposits may be provided in the appropriation act.\n\nD. The State Comptroller shall draw such warrants as appropriated, and the State\nTreasurer shall deposit such warrants into the Fund. No withdrawal shall be made\nfrom the Fund except in accordance with § 2.2-1831.4.\n\nE. For the purposes of the Comptroller’s preliminary and final annual\nreports as required by § 2.2-813, all balances remaining in the Fund on\nJune 30 of each fiscal year shall be considered to be a portion of the fund\nbalance of the general fund of the state treasury. However, if any amounts\naccrue, such as through interest or dividends, to the credit of the Fund in\nexcess of the limitation calculated by the Auditor of Public Accounts as\nprovided in subsection F, any excess shall be paid into the general fund either\nfrom the Fund or from the Revenue Stabilization Fund created pursuant to §\n2.2-1828.\n\nF. The combined amount in the Fund and the Revenue Stabilization Fund created\npursuant to § 2.2-1828 shall not exceed 15 percent of the\nCommonwealth’s average annual tax revenues derived from taxes on income\nand retail sales as certified by the Auditor of Public Accounts for the three\nfiscal years immediately preceding. However, the 15 percent maximum may be\nexceeded if the balance of the Fund does not exceed 10 percent of such revenues.\n\nHISTORY: 2018, c. 827; 2019, c. 347; 2025, c. 635.","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}}