§ 2.2-211 Position established; agencies for which responsible; additional powers
A. The position of Secretary of Finance (the Secretary) is created. The Secretary shall be responsible for the following agencies: Department of Accounts, Department of Planning and Budget, Department of Taxation, Department of the Treasury, Board of Accountancy, and Virginia Resources Authority. The Governor, by executive order, may assign any other state executive agency to the Secretary of Finance, or reassign any agency listed.
B. To the greatest extent practicable, the agencies assigned to the Secretary shall pay all amounts due and owing by the Commonwealth through electronic transfers of funds from the general fund or appropriate special fund to the bank account of the payee or a party identified by law to receive funds on behalf of the payee. All wire transfer costs associated with the electronic transfer shall be paid by the payee subject to exemptions authorized by the State Treasurer affecting the investment, debt, and intergovernmental transactions of the Commonwealth and its agencies, institutions, boards, and authorities.
History
This law was first created in 1984. The record of its establishment is cataloged in chapter 720 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1984 “Acts” aren’t available online. It has been modified 6 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1985, chapter 72; in 1996, chapter 500; in 2001, chapter 844; in 2011, chapters 798 and 871; in 2017, chapters 30 and 31; in 2024, chapters 654 and 677.
1984, c. 720, §§ 2.1-51.32, 2.1-51.33, 2.1-51.34; 1985, c. 72; 1996, c. 500; 2001, c. 844; 2011, cc. 798, 871; 2017, cc. 30, 31; 2024, cc. 654, 677.