HI SB1094

Appropriates $25,000,000 from general funds to the Emergency and Budget Reserve Fund for fiscal year 2014-2015 to recapitalize the reserve fund.

Aims to maintain sufficient fiscal reserves to sustain the State during economic downturns and protect vulnerable populations' access to services.

Committee noted that use of emergency reserves during the 2008 economic recession prevented greater spending cuts, program downsizing, hiring freezes, and furloughs.

Amendment changed all dollar amounts to unspecified sums to facilitate further legislative discussion and made technical nonsubstantive amendments.

Committee recommends passage and placement on calendar for Third Reading.