Highlights of HB 1500 (Budget Bill)
LIS link to HB 1500
• Addresses priority issues in employee compensation and funding for mental health, public education and higher education.
– Maintains structural balance, with one-time resources matched against one-time spending.
– Maintains commitment to full funding of contributions to VRS.
• Creates a Revenue Reserve for use as a back-stop against a shortfall in FY 2018 or to fund an FY 2019 deposit to the Rainy Day Fund.
– $35.0 million in one-time resources from Tax Amnesty set-aside.