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ID H0702
Bill
Status
4/5/2012
Primary Sponsor
Appropriations Committee
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AI Summary
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Transfer $2,000,000 from the General Fund to the Disaster Emergency Fund upon passage and approval of the act
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Transfer $21,452,600 from the General Fund to the Public Education Stabilization Fund to guarantee funding for salary-based apportionment in fiscal year 2014
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Transfer any excess General Fund cash balance to the Budget Stabilization Fund after fiscal year 2012 closes, while maintaining a $5,000,000 ending balance for fiscal year 2013 and covering authorized appropriations and encumbrances
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State Controller shall notify the Governor and Legislature of the amount transferred to the Budget Stabilization Fund after consulting with the Division of Financial Management and Legislative Services Office
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Act takes effect immediately upon passage and approval and is declared an emergency
Legislative Description
Appropriates and transfers $2,000,000 from the General Fund to the Disaster Emergency Fund for fiscal year 2012; appropriates and transfers $21,452,600 from the General Fund to the Public Education Stabilization Fund for fiscal year 2012; and appropriates and transfers the excess fiscal year 2012 year-end cash balance from the General Fund to the Budget Stabilization Fund.
APPROPRIATION
Last Action
Governor signed Session Law Chapter 337 Effective: 04/05/12
4/5/2012