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OH HB508
Bill
Status
Introduced
4/4/2016
Primary Sponsor
Kent Smith
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AI Summary
- Appropriates $25,860,726 from the Budget Stabilization Fund to the Auditor of State for fiscal year 2017 to support political subdivisions in fiscal caution, watch, or emergency status
- Establishes a new Fiscal Watch/Emergency Fund (Fund 5SM0) and requires transfer of $25,860,726 from the Budget Stabilization Fund on or after July 1, 2016
- Distributes funds to 31 specified political subdivisions, with the largest amounts to City of East Cleveland ($6,719,131), City of Maple Heights ($4,079,842), and City of Portsmouth ($3,229,559)
- Authorizes the Auditor of State and Director of Budget and Management to distribute funds to political subdivisions on the Auditor's fiscal caution, watch, or emergency list as of the effective date
- Requires the Director of Budget and Management to establish accounts tracking appropriation sources and amounts, with expenditures accounted for under the main operating appropriations act of the 131st General Assembly
Legislative Description
Appropriates money to Auditor for defaulting subdivisions
Finance and Appropriations
Last Action
Refer to Committee: Finance
4/13/2016
Committee Referrals
Finance4/13/2016
Full Bill Text
No bill text available