New Virginia budget will include 1.5% bonus for state employees
It will also include the state’s share of a 1.5% bonus for teachers and state-supported local employees effective December 1, 2017.
The Governor will also recommend funding to address salary compression at the Virginia State Police, Sheriff’s Offices and Regional Jails and support career development programs. In total, the Governor’s proposed amendments include $130.6 million for compensation.
While Virginia’s revenue shortfall prevents a permanent salary increase in the current budget, the Governor and his team have identified several sources of one-time funding in order to pay for the bonuses he announced today.
The Governor announced one of those sources today in the form a new state tax amnesty program, which will create a special grace period during which individuals and businesses can pay back taxes while avoiding fines and only paying half of the interest due.
This program is expected to generate $59.4 million for the general fund. The program will be administered in fiscal year 2018. Since 1990, three amnesty programs have been administered, with the last being held in 2009. ■