The House and Senate today agreed to passage of a procedural resolution allow for the budget bills to be carried over from the 2012 Regular Session to a 2012 Special Session. Following the adoption of this resolution, the Senate Finance Committee voted to carry the budget bills over to a future 2012 Special Session. This allows them to keep alive the budget bills that were approved by the House last week without having to start over the budget process from scratch. It is anticipated that the General Assembly will adjourn sine die tomorrow and will also convene a Special Session for the purpose of adopting a budget. The hope is that within two weeks the Senate Republicans and Democrats could agree on revisions to the budget that would gain a 21st vote in the Senate for passage of a bill and then a budget conference could be completed. The House and Senate would return and meet during the 2012 Special Session once the conferees reach agreement. I will continue to keep you posted on developments with this process. Thanks. Phil
Philip F. Abraham Director and General Counsel The Vectre Corporation 707 East Main Street Suite 1800 Richmond, VA 23219 work phone: 804-644-6600 work fax: 804-644-6628 email: pabraham@vectrecorp.com