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AR HB1002
Bill
Status
Passed
12/9/2021
Primary Sponsor
Matthew Shepherd
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AI Summary
- Transfers reclaimed or recovered fiscal year 2021 unexpended general revenue balances to the Executive/Legislative 3/5 Vote Set-Aside until the total balance reaches $50,000,000
- Transfers all remaining reclaimed or recovered fiscal year 2021 unexpended general revenue balances to the Unallocated Restricted Reserve Majority Vote Set-Aside
- Authorizes the Chief Fiscal Officer to transfer up to $50,000,000 from the Long Term Reserve Fund to the General Revenue Allotment Reserve Fund before March 31, 2022
- Allows the Chief Fiscal Officer to transfer up to $50,000,000 from the General Revenue Allotment Reserve Fund to the Economic Development Incentive Quick Action Closing Fund for qualified steel manufacturers, with provisions expiring March 31, 2022
- Declares an emergency due to insufficient funds for unanticipated circumstances and essential governmental services, making the act immediately effective upon approval
Legislative Description
To Transfer Funds To The Restricted Reserve Fund, General Revenue Allotment Reserve Fund And Economic Development Incentive Quick Action Closing Fund; And To Declare An Emergency.
Last Action
Notification that HB1002 is now Act 10
12/9/2021
Committee Referrals
Budget12/7/2021
Full Bill Text
No bill text available