ID S1331

Increases the threshold for transferring excess balances from the Public Education Stabilization Fund to the bond levy equalization fund from 8.334% to 15% of the current fiscal year's total state appropriation for public school support.

Establishes annual transfers from the General Fund to the Public Education Stabilization Fund when general fund receipts exceed the previous fiscal year by more than 4%, with transfers capped at 0.50% of prior fiscal year actual general fund collections.

Amends Section 57-814 to change the maximum transfer amount to the Budget Stabilization Fund from 1.50% to one-half of one percent (.50%) of actual general fund collections of the prior fiscal year.

Creates a new version of Section 57-814 effective May 31, 2017 that allows transfers to the Budget Stabilization Fund in four equal installments (September, December, March, and June) with a cap of 10% of total general fund receipts for the fiscal year.

Allows the legislature to reduce transfer amounts to either stabilization fund through concurrent resolution adopted by a majority of both houses.