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MS SB2469

Bill

Status

Failed

4/18/2016

Primary Sponsor

Eugene Clarke

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Brings forward state budget law provisions regarding general fund appropriation limits (98% of revenue estimates for most years, with exceptions for fiscal years 2010-2012, 2015, and 2016 allowing 100%).

  • Authorizes State Fiscal Officer to transfer $1.00 each from the General Fund, Budget Contingency Fund, and Treasurer's Abandoned Property Fund to the Capital Expense Fund during fiscal year 2016.

  • Establishes Working Cash-Stabilization Reserve Fund with specific uses for cash flow needs, deficit coverage (up to $50 million annually), and disaster assistance, with detailed distribution formulas for unencumbered general fund balances.

  • Extends automatic repealer date for Health Care Trust Fund provisions from July 1, 2016 to July 1, 2017 under Section 43-13-405, affecting tobacco settlement fund management.

  • Preserves existing provisions for Health Care Expendable Fund transfers, Local System Bridge Replacement and Rehabilitation Fund appropriations, and budget submission requirements for the Governor.

Legislative Description

State budget; provide for certain transfers.

Last Action

Died In Conference

4/18/2016

Committee Referrals

Appropriations2/8/2016

Full Bill Text

No bill text available