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ID H0374
Bill
Status
1/28/2020
Primary Sponsor
Appropriations Committee
Click for details
AI Summary
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Increases the maximum allowable balance in the Budget Stabilization Fund from 10% to 15% of total general fund receipts for the fiscal year just ended.
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Repeals Section 67-3520, Idaho Code, which established the Economic Recovery Reserve Fund.
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Transfers all remaining moneys from the Economic Recovery Reserve Fund to the Budget Stabilization Fund on or after June 1, 2020.
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Appropriates and transfers $20,000,000 from the General Fund to the Budget Stabilization Fund on or after June 1, 2020.
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Declares an emergency for Sections 3 and 4 to take effect immediately upon passage and approval; Section 2 effective July 1, 2020; and Section 1 effective July 1, 2021.
Legislative Description
Amends existing law to increase the percentage of General Fund receipts that may be in the Budget Stabilization Fund; repeals the authorization of the Economic Recovery Reserve Fund; transfers the remaining balance from the Economic Recovery Reserve Fund to the Budget Stabilization Fund; and transfers $20,000,000 from the General Fund to the Budget Stabilization Fund.
APPROPRIATIONS
Last Action
U.C. to be returned to Appropriations Committee
2/4/2020