HB0503

Find a 2017 Bill:

2017 Regular Session

 

Entitled:

State Budget - Appropriations - Income Tax Revenue Estimate Cap and Revenue Stabilization Account

Sponsored by:

Delegate McIntosh

Status:

In the House - Returned Passed


Synopsis:Requiring the Bureau of Revenue Estimates, beginning with the revenue estimate for fiscal year 2020, to calculate a specified share of General Fund revenues represented by specified nonwithholding income tax revenues; requiring the Bureau to make a specified adjustment to a specified revenue estimate relating to nonwithholding income tax revenues under specified circumstances; establishing the Fiscal Responsibility Fund to retain the amount of nonwithholding income tax revenues until the revenues are appropriated in the State budget; etc.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Delegate McIntosh
Additional Facts:Cross-filed with: SB0371
Bill File Type: Regular
Effective Date(s): July 1, 2017
Bill imposes a mandated appropriation in the annual State Budget Bill
Committee(s):
Appropriations  View Committee HearingBudget and Taxation  View Committee Hearing
Broad Subject(s):Operating Budget
Taxes - Income
Narrow Subject(s):Appropriations
Budgets -see also- Capital Budgets
Committees and Commissions -see also- Political Committees
Comptroller
General Assembly -see also- AELR Cmte; Leg Policy Committee
Governor
Income Tax
Investments -see also- Securities
Legislation -see also- Correct Leg; Cur Leg; Emerg Bills
Public Schools
Reports
Revenue and Taxes -see also- Dev Fees &Taxes; specific tax
Treasurers
Statutes:Article - State Finance and Procurement
(6-104 through 6-106, 7-311, 7-329, 7-330)
Article - Tax - General
(2-609)

How a Bill Becomes Law

Legislative Lingo

Explanation of Floor Motions and Actions


March 27, 2017 10:00 A.M.