30-19.1:7 - Bills related to the Virginia Retirement System; impact statements - Virginia Statutes

§ 30-19.1:7. Bills related to the Virginia Retirement System; impactstatements.

In accordance with a joint resolution that establishes a schedule for theconduct 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 theSenate, the Commission on Local Government, the House Committee onAppropriations, and the Senate Committee on Finance, a statement of (i) thefinancial impact of the proposed bill upon the general fund and the variouslocal governments that have elected to become part of the Virginia RetirementSystem pursuant to § 51.1-800 and (ii) the policy implications that such billwill have on the various systems administered by the Board of Trustees. Suchstatement shall also note the potential impact any introduced bill will haveon local government independent retirement systems.

(1997, c. 610; 2001, c. 680; 2010, c. 410.)