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MS SB2469
Bill
AI Summary
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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%).
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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.
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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.
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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.
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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