SB 1472 Virginia Senate · 2025 Regular Session

Revenue Stabilization and Revenue Reserve Fund; revenue reserves.

Summary
Revenue reserves of the Revenue Stabilization Fund and the Revenue Reserve Fund. Increases the maximum combined amount in the Revenue Stabilization Fund and the Revenue Reserve Fund from 15 percent to 20 percent of the Commonwealth's average annual tax revenues, provided that such combined amount shall only exceed 15 percent if the balance of the Revenue Reserve Fund does not exceed eight percent of such revenues. The bill also removes the requirement that the Governor make increased deposits into the Revenue Stabilization Fund during periods of increased revenue collection.
Bill status signed all 5 stages cleared
Introduction
Jan 2025
Committee Review
Feb 2025
Senate Passage
Apr 2025
House of Delegates Passage
Apr 2025
Signed into Law
Apr 2025
Introduced Jan 17, 2025 Signed Apr 2, 2025
Maddy AI version diff · 5 comparisons

What changed between versions

Conference Substitute Chaptered · 4 edits
MODERATE
This bill formalizes the transition of Senate Bill 1472 from a conference substitute version to an enacted chapter, incorporating minor formatting adjustments and clarifying language while maintaining the core provisions regarding Virginia's revenue stabilization and reserve funds. The substantive policy content remains largely unchanged, with the primary differences being the addition of chapter formatting and minor text corrections.
TECHNICAL

Added chapter header formatting and session information to reflect the bill's enactment as Chapter 635 of the 2025 Reconvened Session.

Corrected minor text inconsistencies in subsection E of § 2.2-1829, clarifying the combined fund limit percentage threshold.

Adjusted the excess balance threshold in subsection F of § 2.2-1831.3 from 8 percent to 10 percent of revenues, allowing the 15 percent maximum to be exceeded under slightly different conditions.

Reformatted line breaks and spacing throughout the text to match standard legislative chapter formatting requirements.

Floor votes · Senate Jan 31, 2025 · House of Delegates Feb 19, 2025

How they voted

400
Passed
Total votes 40
Jan 31, 2025
D Democratic21
21 Yea
100% Yea
R Republican19
19 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
54
Key actions
14
Committee
9
Apr 2, 2025
Signed into law
Governor's recommendation adopted
executive
Apr 2, 2025
Lower · Passed
House concurred in Governor's recommendation (94-Y 2-N)
lower
Apr 2, 2025
Upper · Passed
Senate concurred in Governor's recommendation (40-Y 0-N)
upper
Mar 24, 2025
Vetoed
Governor's recommendation received by Senate
executive
Mar 10, 2025
Upper · Passed
Signed by President
upper
Mar 7, 2025
Lower · Passed
Signed by Speaker
lower
Mar 7, 2025
Upper · Passed
Bill text as passed Senate and House (SB1472ER)
upper
Feb 22, 2025
Lower · Passed
Conference report agreed to by House (84-Y 13-N)
lower
Feb 21, 2025
Upper · Passed
Conference report agreed to by Senate (40-Y 0-N)
upper
Feb 21, 2025
Legislature · Passed
Amended by conference committee
legislature
Feb 20, 2025
Committee
House requested conference committee
lower
Feb 19, 2025
Lower · Passed
Passed House with substitute (84-Y 13-N)
lower
Feb 14, 2025
Lower · Passed
Reported from Appropriations with substitute (21-Y 0-N)
lower
Feb 6, 2025
Committee
Assigned Approps sub: General Government and Capital Outlay
lower
Feb 6, 2025
Committee
Referred to Committee on Appropriations
lower
Jan 31, 2025
Upper · Passed
Passed Senate (40-Y 0-N)
upper
Jan 30, 2025
Upper · Passed
Passed by for the day
upper
Jan 29, 2025
Upper · Passed
Reported from Finance and Appropriations (15-Y 0-N)
upper
Jan 17, 2025
Committee
Referred to Committee on Finance and Appropriations
upper
Jan 17, 2025
Introduced
Presented and ordered printed 25102888D
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Louise Lucas
Louise Lucas
DDemocratic
VA
18