Code of Virginia § 65.2-1101. Funding.

151 words·~1 min read·/va/title-65-2/chapter-11/65-2-1101

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. For the purpose of providing funds for compensation for disability as hereinafter defined, medical treatment and vocational rehabilitative services, a tax of one quarter of one percent shall be assessed, collected and paid into the state treasury by the same persons and in the same manner as set forth in Chapter 10 (§ 65.2-1000 et seq.) of this title.

B. This tax shall be in addition to the tax for the Commission administrative fund and shall be held by the Comptroller of the Commonwealth solely for the payment of awards against such fund.

C. In any fiscal year in which the Second Injury Fund has to its credit a sum in excess of $250,000, the tax shall be suspended for the ensuing fiscal years and its collection not resumed until the balance in the fund is reduced below $125,000.

1975, c. 365, § 65.1-139; 1980, c. 599; 1991, c. 355.