Election: Nov. 2, 2010 (General)
Outcome: Passed
Categories:
ConstitutionProposed Amendment
The proposed constitutional amendment increases the maximum size of the Fund from 10 percent to 15 percent of the Commonwealth's average annual tax revenues from income and sales taxes for the preceding three fiscal years.
Shall Section 8 of Article X of the Constitution of Virginia be amended to increase the permissible size of the Revenue Stabilization Fund (also known as the "rainy day fund") from 10 percent to 15 percent of the Commonwealth's average annual tax revenues derived from income and retail sales taxes for the preceding three fiscal years?