MS HB209

Amends budget law to limit total proposed expenditures and appropriations from the State General Fund to the average of actual general fund revenues received during the previous three fiscal years, replacing previous estimates based on projected revenues.

Creates the Mississippi Future Budget Fund as a special state treasury fund to receive portions of unencumbered cash balances at the end of each fiscal year, with money available for appropriation only in later fiscal years, not current or upcoming fiscal years.

Establishes distribution formula for end-of-year unencumbered general fund cash balance: 50% to Working Cash-Stabilization Reserve Fund (capped at 10% of annual appropriations), 25% to Capital Expense Fund, and remaining balance to Mississippi Future Budget Fund.

Allows transfer of up to 20% of the Mississippi Future Budget Fund balance annually to the Disaster Assistance Trust Fund when immediately needed for disaster assistance, with director notifying legislative leadership of requisitions.

Takes effect July 1, 2019.