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Virginia Department of Planning and Budget

2020-22 Revenue Estimates

The following table shows revenue estimates for the 2020-2022 biennium, as adopted in the 2020 Appropriation Act (Chapter 56, 2020 Special Session I, Acts of Assembly).

General Fund Revenues
Revenue Source   Biennial total
$ in millions
Balance June 30, 2020 2,874.1
Additions to balance (1,254.6)
Transfers 1,222.8
Official revenue estimate:
Miscellaneous Taxes & Revenue 1,544.7  
Insurance Premiums 696.9  
Corporate Income 2,184.7  
Sales Tax 6,785.2  
Wills, Suits, Deeds & Contract Fees 815.4  
Individual Income 31,511.7  
  43,538.6
Total general fund revenue available for appropriation 46,380.9
 
Nongeneral Fund Revenues
Revenue Source   Biennial total
$ in millions
Balance June 30, 2020 7,596.2
Bond Proceeds 2,674.6
Lottery Proceeds Fund 1,324.1
Internal Service Fund 4,347.1
Official Revenue Estimate:
Motor Vehicle Fuel Tax 2,159.3  
Unemployment Compensation Payroll Tax 776.0  
Special highway tax from sales tax 1,700.4  
Motor vehicle sales tax and use tax 2,014.8  
Other Taxes 5,330.1  
Rights and Priveleges 2,840.1  
Sale of Properties and Commodities 2,476.6  
Assessment & Receipts for Special Services 3,898.5  
Institutional Revenue 18,631.5  
Interest, Dividends, and Rents 451.2  
Federal Grants and Contracts 31,311.2  
Master Tobacco Settlement Agreement Funds 198.7  
Other Revenue 7,220.3  
  79,008.7
Total nongeneral fund revenue available for appropriation 94,950.7
 
Total Resources 141,331.6