AR HR1017

Authorizes the Joint Budget Committee to introduce a bill amending the Revenue Stabilization Law and establishing procedures for fund transfers and creation.

Creates a new sub-fund called "EBD or Contingency 3/5 Vote Set Aside" within the Restricted Reserve Fund and transfers all balances from the Executive/Legislative 3/5 Vote Set Aside into it upon the act's effective date.

Allows disbursements from the EBD or Contingency 3/5 Vote Set Aside for transfers under specified provisions and requires any unobligated funds remaining in this account to transfer to the General Revenue Allotment Reserve Fund on July 1, 2024.

Establishes that General Assembly approval through the Legislative Council or Joint Budget Committee is required for fund transfers and is not severable from the underlying statute; if this approval requirement is ruled unconstitutional, the entire transfer provision becomes void.

Effective date is July 1, 2022.