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CT HB05105

Bill

Official Source

Status

Introduced

2/10/2010

Primary Sponsor

Elizabeth Esty

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Origin

House of Representatives

2010 General Assembly

AI Summary

  • Increases the maximum permissible balance of the Budget Reserve Fund from 10% to 15% of current fiscal year net appropriations from the General Fund
  • Requires the State Treasurer to transfer any projected surplus exceeding 1% of net General Fund appropriations to the Budget Reserve Fund during the month the projection is issued by the Comptroller
  • Allows transferred amounts to be released during the current fiscal year if a budget deficit occurs
  • Aims to enhance fiscal stability by increasing unappropriated surplus deposits and implementing automatic mid-year transfers based on surplus projections

Legislative Description

An Act Concerning Transfers Of General Fund Surplus To The Budget Reserve Fund.

Last Action

Public Hearing 03/05

3/1/2010

Committee Referrals

Appropriations2/10/2010

Full Bill Text

No bill text available