AR HB1830

Creates the "Rainy Day Fund" as a miscellaneous fund on the books of the State Treasurer, Auditor of State, and Chief Fiscal Officer, to be funded by General Improvement Fund transfers, Attorney General settlement funds, interagency transfers, and other revenues authorized by law.

Authorizes the Chief Fiscal Officer to transfer Rainy Day Fund monies to finance General Improvement Fund appropriations or other authorized funds with notification to the Legislative Council or Joint Budget Committee.

Transfers initial funds to the Rainy Day Fund from unobligated General Improvement Fund monies, General Revenue Allotment Reserve Fund balances, estate tax revenues, and Attorney General consumer enforcement settlement funds.

Establishes $160.5 million for Priority/Debt Obligations Set-Asides ($10.5M for corrections facilities, $90M for Medicaid grants, $60M for school facilities) and $52 million for Executive/Legislative Shared Projects Set-Asides ($30M for economic development, $2M for business accelerator, $20M for highway transfer fund).

Becomes effective July 1, 2017 as an emergency measure to align fiscal law changes with the beginning of the fiscal year.