2006-2008 Budget Agreement Highlights
Highlights of the concord include no tax increases, no new debt, full Death Tax Repeal, $9.4 billion in transportation spending for the biennium with an additional $339 million to be allocated later in special session. There will also be $200 million in funding for Chesapeake Bay clean up. The Assembly is committing funds for a 300-bed facility for Virginia’s Civil Commitment Program to assist in the recent legislative crack-downs on Sexually Violent Predators. State Employee, Sheriffs’ Deputy, and College Faculty will received pay raises of 4% increase in FY07 and 3% increase in FY08 along with funding for state-portion of pay increase for public school teachers equal to 4% for FY07 and 1.5% for FY08.
