SB16-089 Summary

• Establishes an alternative maximum reserve for the Department of State Cash Fund effective for fiscal years beginning July 1, 2015 and after.

• Sets the alternative maximum reserve equal to 16.5 percent of the total amount the Department of State expended from the fund during the fiscal year.

• Adds to the reserve calculation any unexpended money from appropriations designated to reimburse county clerks and recorders for election costs under section 24-21-104.5.

• Declared necessary for the immediate preservation of public peace, health, and safety under the bill's safety clause.