                                 CODE OF VIRGINIA

CREATION OF REVENUE RESERVE FUND (§ 2.2-1831.2)

There is hereby created in the state treasury a special nonreverting fund to be
known as the Revenue Reserve Fund, referred to in this article as &#8220;the
Fund.&#8221; The Fund shall be established on the books of the Comptroller. All
funds appropriated for such purpose and any gifts, donations, grants, bequests,
and other funds received on its behalf shall be paid into the state treasury and
credited to the Fund. Interest earned on moneys in the Fund shall remain in the
Fund and be credited to it. Any moneys remaining in the Fund, including interest
thereon, at the end of each fiscal year shall not revert to the general fund but
shall remain in the Fund. Moneys in the Fund shall be used to offset, in whole
or in part, certain anticipated shortfalls in revenues when appropriations based
on previous forecasts exceed expected revenues in subsequent forecasts as
provided in § 2.2-1831.4.

HISTORY: 2018, c. 827.