AR SB205

Chief Fiscal Officer must report all expenditures, transfers, agreed-upon commitments, or other obligations of Rainy Day Fund to Legislative Council cochairs or Joint Budget Committee cochairs within one day of the transaction.

Reports must include the amount or anticipated amount, the receiving agency or institution, the purpose of the expenditure, and any other information requested by Legislative Council or Joint Budget Committee.

Cochairs of Legislative Council or Joint Budget Committee must promptly distribute all reports to full membership.

Chief Fiscal Officer must report all Rainy Day Fund transactions occurring from January 11, 2021, until the act's effective date within one day of the act becoming effective.

Act expires 31 days following sine die adjournment of the 93rd General Assembly's regular session and takes effect immediately upon Governor approval to ensure prompt transparency of Rainy Day Fund transfers.