§ 30-19.1:7. Requesting and introducing bills related to the Virginia Retirement System; impact statement...
Any bill proposing to amend, add, repeal, or modify any provision of any retirement system established in Title 51.1 shall be introduced for consideration by the General Assembly no later than the first calendar day of any regular session of the General Assembly unless (i) requested in writing by the Governor or (ii) filed in accordance with the rules of the General Assembly.
In accordance with a joint resolution which establishes a schedule for the conduct of business coming before a regular session of the General Assembly, the Board of Trustees of the Virginia Retirement System shall investigate, prepare, and submit to the Clerk of the House of Delegates, the Clerk of the Senate, the Commission on Local Government, the House Committee on Appropriations, and the Senate Committee on Finance, a statement of (i) the financial impact of the proposed bill upon the general fund and the various local governments that have elected to become part of the Virginia Retirement System pursuant to § 51.1-800 and (ii) the policy implications that such bill will have on the various systems administered by the Board of Trustees. Such statement shall also note the potential impact any introduced bill will have on local government independent retirement systems.
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Last modified: April 16, 2009