Skip to content

Richmond Update...It's All About the Budget

Richmond Update...It's All About the Budget

Richmond Update...It's All About the Budget


The House and Senate money committees passed their respective budgets last Thursday - the House 67-32, the Senate 29-11 - and have until Wednesday to take action on the other body's budget proposal. Once that has been done, the House will appoint its budget conferrees; the Senate will do likewise. The conferees and money committee staff will then begin meeting to resolve differences in their budgets as well as those in the Governor's introduced budget.
 
For some quick highlights on the current versions of the budget, click here. (LINK TO INFORMATION BELOW. Make it look like a blog post with intro from John.)
 
Minimum Wage - 
House includes $3.7 million GF in FY 2021 and $7.4 million GF in FY 2022 for the impact on agencies and universities from the increase the minimum wage (HB 395)
Senate includes $2 million in GF in FY 2021 and $5 million in GF in FY 2022 for the impact on state agencies from the increase in the minimum wage (SB 7)
 
House:
Allocates more than $420 million in new revenues to transportation agencies over the biennium, resulting from HB 1414 including:
o $210.8 million for highway maintenance and construction
o $190.4 million for transit and passenger rail
o $9.7 million for DMV
o $8.5 million for dedicated funding for the Port Authority, Spaceport, and Aviation agencies

As prescribed by HB 1541, creates the Central Virginia Transportation Authority
o Authority will administer funding generated through the additional regional 0.7% sales and use tax and a 2.1% wholesale gas tax for localities within planning district 15
o $179.5 million in FY 2021, $198.2 million in NGF

Senate:
Allocates more than $700 million in new revenues to transportation agencies over the biennium, resulting from SB 890 including:
o $350 million for highway maintenance and construction
o $300 million for transit and passenger rail
o $30 million for DMV
o $20 million for dedicated funding for the Port Authority, Spaceport, and Aviation agencies
 
Tuition Assistance Grant (TAG)- this is something we are watching very closely as it impacts the majority of schools in our region. 

House 

$11.2 million for Tuition Assistance Grants (TAG)
• Eliminates proposed online restriction
• Funding will increase the award to about $3,850 in second year

Senate
• Includes $13.3 million additional for Tuition Assistance Grants (TAG) for students attending Virginia private colleges. 

This amendment restores eligibility for Tuition Assistance Grants for students enrolled in fully online programs in the first year of the budget, up to $3,400 per student, but maintains the position in the budget as introduced in the second year.
 

Leave a Comment
* Required field