A. The Debt Capacity Advisory Committee (the Committee) is established as anadvisory committee, within the meaning of § 2.2-2100, in the executive branchof state government.
B. The Committee shall consist of the Secretary of Finance; the StateTreasurer; the Director of the Department of Planning and Budget; StateComptroller; the Auditor of Public Accounts; the Director of the JointLegislative Audit and Review Commission; the Staff Director of the HouseCommittee on Appropriations; the Staff Director of the Senate Committee onFinance; and two citizen members who have expertise in financial matters tobe appointed by the Governor.
C. Of the citizen members appointed for terms beginning July 1, 1994, oneshall be appointed for an initial term of three years and the other for aninitial term of five years. Successors shall be appointed to serve for termsof four years each. Vacancies occurring other than by expiration of termshall be filled by appointment of the Governor for the remainder of theunexpired term. All appointments shall be subject to confirmation by theGeneral Assembly. Members shall continue to hold office until theirsuccessors have been appointed and qualified.
D. The Secretary of Finance shall be the chairperson of the Committee.
E. All members of the Committee shall serve without compensation but shallreceive reasonable and necessary expenses incurred in the discharge of theirduties as provided in § 2.2-2825.
F. The Department of the Treasury shall serve as staff to the Committee.
(1994, c. 43, § 2.1-304.2; 2001, c. 844; 2010, c. 32.)
A. The Debt Capacity Advisory Committee (the Committee) is established as anadvisory committee, within the meaning of § 2.2-2100, in the executive branchof state government.
B. The Committee shall consist of the Secretary of Finance; the StateTreasurer; the Director of the Department of Planning and Budget; StateComptroller; the Auditor of Public Accounts; the Director of the JointLegislative Audit and Review Commission; the Staff Director of the HouseCommittee on Appropriations; the Staff Director of the Senate Committee onFinance; and two citizen members who have expertise in financial matters tobe appointed by the Governor.
C. Of the citizen members appointed for terms beginning July 1, 1994, oneshall be appointed for an initial term of three years and the other for aninitial term of five years. Successors shall be appointed to serve for termsof four years each. Vacancies occurring other than by expiration of termshall be filled by appointment of the Governor for the remainder of theunexpired term. All appointments shall be subject to confirmation by theGeneral Assembly. Members shall continue to hold office until theirsuccessors have been appointed and qualified.
D. The Secretary of Finance shall be the chairperson of the Committee.
E. All members of the Committee shall serve without compensation but shallreceive reasonable and necessary expenses incurred in the discharge of theirduties as provided in § 2.2-2825.
F. The Department of the Treasury shall serve as staff to the Committee.
(1994, c. 43, § 2.1-304.2; 2001, c. 844; 2010, c. 32.)
A. The Debt Capacity Advisory Committee (the Committee) is established as anadvisory committee, within the meaning of § 2.2-2100, in the executive branchof state government.
B. The Committee shall consist of the Secretary of Finance; the StateTreasurer; the Director of the Department of Planning and Budget; StateComptroller; the Auditor of Public Accounts; the Director of the JointLegislative Audit and Review Commission; the Staff Director of the HouseCommittee on Appropriations; the Staff Director of the Senate Committee onFinance; and two citizen members who have expertise in financial matters tobe appointed by the Governor.
C. Of the citizen members appointed for terms beginning July 1, 1994, oneshall be appointed for an initial term of three years and the other for aninitial term of five years. Successors shall be appointed to serve for termsof four years each. Vacancies occurring other than by expiration of termshall be filled by appointment of the Governor for the remainder of theunexpired term. All appointments shall be subject to confirmation by theGeneral Assembly. Members shall continue to hold office until theirsuccessors have been appointed and qualified.
D. The Secretary of Finance shall be the chairperson of the Committee.
E. All members of the Committee shall serve without compensation but shallreceive reasonable and necessary expenses incurred in the discharge of theirduties as provided in § 2.2-2825.
F. The Department of the Treasury shall serve as staff to the Committee.
(1994, c. 43, § 2.1-304.2; 2001, c. 844; 2010, c. 32.)
