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MS HB340

Bill

Official Source

Status

Failed

2/23/2016

Primary Sponsor

Greg Snowden

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • Amends Mississippi Code Section 27-103-211 to modify the appropriations limit from the State General Fund
  • Allows the Legislature to appropriate up to 100% of the general fund revenue estimate for any fiscal year when the Working Cash-Stabilization Reserve Fund balance will be at its maximum of 7.5% of total General Fund appropriations at the beginning of that fiscal year
  • Replaces previous language that limited this 100% appropriation authority to specific fiscal years (2010, 2011, 2012, 2015, and 2016) with permanent authorization whenever the reserve fund reaches maximum balance
  • Maintains the standard 98% appropriations limit in years when the reserve fund is not at maximum balance
  • Takes effect July 1, 2016

Legislative Description

Legislature; authorize to appropriate up to 100% of general fund revenue estimate when rainy day fund will be full at beginning of fiscal year.

Last Action

Died In Committee

2/23/2016

Committee Referrals

Appropriations2/8/2016

Full Bill Text

No bill text available