{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/2.2-2713.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/2.2-2713.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/2.2-2713.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/2.2-2713.html"}],"law_id":54236,"edition_id":1,"section_id":54236,"structure_id":13232,"section_number":"2.2-2713","catch_line":"Powers and duties of the Committee","history":"1994, c. 43, \u00a7 2.1-304.3; 1997, c. 187; 2001, c. 844.","full_text":"The Committee shall have the power and duty to:\n\n1\n\nAnnually review the size and condition of the Commonwealth’s tax-supported debt and submit to the Governor and to the General Assembly an estimate of the maximum amount of new tax-supported debt that prudently may be authorized for the next biennium. The estimate shall be advisory and in no way bind the Governor or the General Assembly;2\n\nAnnually review the amount and condition of bonds, notes, and other security obligations of the Commonwealth’s agencies, institutions, boards, and authorities, for which the (i) Commonwealth has a contingent or limited liability or (ii) General Assembly is permitted to replenish reserve funds if deficiencies occur, and submit to the Governor and the General Assembly an annual report with the Committee’s recommendation to ensure the prudent use of such obligations. Such review shall be submitted on or before January 1 of each year; and3\n\nConduct ongoing reviews of the amount and condition of bonds, notes, and other security obligations of the Commonwealth’s agencies, institutions, boards, and authorities not secured by the full faith and credit of the Commonwealth or for which the General Assembly is not permitted to replenish reserve funds, and when appropriate, shall recommend limits on such additional obligations to the Governor and to the General Assembly.","order_by":null,"text":{"0":{"id":199167,"text":"The Committee shall have the power and duty to:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":199168,"text":"Annually review the size and condition of the Commonwealth’s tax-supported debt and submit to the Governor and to the General Assembly an estimate of the maximum amount of new tax-supported debt that prudently may be authorized for the next biennium. The estimate shall be advisory and in no way bind the Governor or the General Assembly;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":199169,"text":"Annually review the amount and condition of bonds, notes, and other security obligations of the Commonwealth’s agencies, institutions, boards, and authorities, for which the (i) Commonwealth has a contingent or limited liability or (ii) General Assembly is permitted to replenish reserve funds if deficiencies occur, and submit to the Governor and the General Assembly an annual report with the Committee’s recommendation to ensure the prudent use of such obligations. Such review shall be submitted on or before January 1 of each year; and","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":199170,"text":"Conduct ongoing reviews of the amount and condition of bonds, notes, and other security obligations of the Commonwealth’s agencies, institutions, boards, and authorities not secured by the full faith and credit of the Commonwealth or for which the General Assembly is not permitted to replenish reserve funds, and when appropriate, shall recommend limits on such additional obligations to the Governor and to the General Assembly.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2"}},"ancestry":[{"id":13232,"edition_id":1,"name":"Debt Capacity Advisory Committee","identifier":"5","label":"article","depth":5,"order_by":1,"parent_id":13231,"metadata":{},"date_created":"2026-06-26 03:44:29","date_modified":"2026-06-26 03:44:29","permalink":{"id":175579,"object_type":"structure","relational_id":13232,"identifier":"5","token":"2.2\/I\/D\/27\/5","url":"\/2.2\/I\/D\/27\/5\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13231,"edition_id":1,"name":"Foundations and Other Collegial Bodies","identifier":"27","label":"chapter","depth":4,"order_by":1,"parent_id":12785,"metadata":{},"date_created":"2026-06-26 03:44:29","date_modified":"2026-06-26 03:44:29","permalink":{"id":175501,"object_type":"structure","relational_id":13231,"identifier":"27","token":"2.2\/I\/D\/27","url":"\/2.2\/I\/D\/27\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12785,"edition_id":1,"name":"State Authorities, Boards, Commissions, Councils, Foundations and Other Collegial Bodies","identifier":"D","label":"part","depth":3,"order_by":1,"parent_id":12784,"metadata":{},"date_created":"2026-06-26 03:43:53","date_modified":"2026-06-26 03:43:53","permalink":{"id":173913,"object_type":"structure","relational_id":12785,"identifier":"D","token":"2.2\/I\/D","url":"\/2.2\/I\/D\/","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":79829,"structure_id":13232,"section_number":"2.2-2712","catch_line":"Debt Capacity Advisory Committee; membership; terms; chairman; compensation; staff","url":"\/2.2-2712\/","token":"2.2\/I\/D\/27\/5\/2.2-2712","metadata":false},{"id":54236,"structure_id":13232,"section_number":"2.2-2713","catch_line":"Powers and duties of the Committee","url":"\/2.2-2713\/","token":"2.2\/I\/D\/27\/5\/2.2-2713","metadata":false},{"id":71994,"structure_id":13232,"section_number":"2.2-2714","catch_line":"Estimated amount of prudent tax-supported debt; affordability considerations","url":"\/2.2-2714\/","token":"2.2\/I\/D\/27\/5\/2.2-2714","metadata":false}],"previous_section":{"id":79829,"structure_id":13232,"section_number":"2.2-2712","catch_line":"Debt Capacity Advisory Committee; membership; terms; chairman; compensation; staff","url":"\/2.2-2712\/","token":"2.2\/I\/D\/27\/5\/2.2-2712","metadata":false},"next_section":{"id":71994,"structure_id":13232,"section_number":"2.2-2714","catch_line":"Estimated amount of prudent tax-supported debt; affordability considerations","url":"\/2.2-2714\/","token":"2.2\/I\/D\/27\/5\/2.2-2714","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/2.2-2713\/","history_text":"

This law was first created in 1994. The record of its establishment is cataloged in chapter 43<\/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 1997, chapter 187<\/a>; in 2001, chapter 844<\/a>.<\/p>","references":[{"id":83639,"section_number":"33.2-1502","catch_line":"Creation of the Virginia Transportation Infrastructure Bank","order_by":null,"url":"\/33.2-1502\/"}],"refers_to":false,"permalink":{"id":175585,"object_type":"law","relational_id":54236,"identifier":"2.2-2713","token":"2.2\/I\/D\/27\/5\/2.2-2713","url":"\/2.2-2713\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/2.2-2713\/","token":"2.2\/I\/D\/27\/5\/2.2-2713","dublin_core":{"Title":"Powers and duties of the Committee","Type":"Text","Format":"text\/html","Identifier":"\u00a7 2.2-2713","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The Committee shall have the power and duty to:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Annually review the size and condition of the Commonwealth’s tax-supported debt and submit to the Governor and to the General Assembly an estimate of the maximum amount of new tax-supported debt that prudently may be authorized for the next biennium. The estimate shall be advisory and in no way bind the Governor or the General Assembly; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Annually review the amount and condition of bonds<\/span>, notes, and other security obligations of the Commonwealth’s agencies, institutions, boards, and authorities, for which the (i) Commonwealth has a contingent or limited liability or (ii) General Assembly is permitted to replenish reserve funds if deficiencies occur, and submit to the Governor and the General Assembly an annual report with the Committee’s recommendation to ensure the prudent use of such obligations. Such review shall be submitted on or before January 1 of each year; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Conduct ongoing reviews of the amount and condition of bonds<\/span>, notes, and other security obligations of the Commonwealth’s agencies, institutions, boards, and authorities not secured by the full faith and credit of the Commonwealth or for which the General Assembly is not permitted to replenish reserve funds, and when appropriate, shall recommend limits on such additional obligations to the Governor and to the General Assembly. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS AND DUTIES OF THE COMMITTEE (\u00a7 2.2-2713)\n\nThe Committee shall have the power and duty to:\n\n1. Annually review the size and condition of the Commonwealth’s\ntax-supported debt and submit to the Governor and to the General Assembly an\nestimate of the maximum amount of new tax-supported debt that prudently may be\nauthorized for the next biennium. The estimate shall be advisory and in no way\nbind the Governor or the General Assembly;\n\n2. Annually review the amount and condition of bonds, notes, and other security\nobligations of the Commonwealth’s agencies, institutions, boards, and\nauthorities, for which the (i) Commonwealth has a contingent or limited\nliability or (ii) General Assembly is permitted to replenish reserve funds if\ndeficiencies occur, and submit to the Governor and the General Assembly an\nannual report with the Committee’s recommendation to ensure the prudent\nuse of such obligations. Such review shall be submitted on or before January 1\nof each year; and\n\n3. Conduct ongoing reviews of the amount and condition of bonds, notes, and\nother security obligations of the Commonwealth’s agencies, institutions,\nboards, and authorities not secured by the full faith and credit of the\nCommonwealth or for which the General Assembly is not permitted to replenish\nreserve funds, and when appropriate, shall recommend limits on such additional\nobligations to the Governor and to the General Assembly.\n\nHISTORY: 1994, c. 43, \u00a7 2.1-304.3; 1997, c. 187; 2001, c. 844.","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}}