Taxes

VA Promise To Refund "Surplus" Taxes Depends on Dubious Accounting

About those underfunded pensions ...

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ALEXANDRIA — Virginia taxpayers might cheer over any so-called surpluses, if one delegate's idea becomes law.

Delegate Bob Marshall, R-Manassas, has proposed a constitutional amendment that would force the state to refund any rollover revenue — exceeding the $50 million required for the rainy day fund — back to state income taxpayers, depending on how much they have paid.