Virginia § 2.2-1831.2 Creation of Revenue Reserve Fund

Virginia Statutes

§ 2.2-1831.2 — Creation of Revenue Reserve Fund

Virginia § 2.2-1831.2

JurisdictionVirginia

Title 2.2Administration of Government

Subtitle IOrganization of State Government

Ch. 18Department of the Treasury

Art. 4.1Revenue Reserve Fund

Part CState Agencies Related to the General Operation of Government

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Bluebook

Va. Code Ann. § 2.2-1831.2 (2026).

Text

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 "the Fund." 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 

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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 "the Fund." 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.