91st General Assembly
Summary of HB0075
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House Sponsors:
SCHOENBERG-GRANBERG-HOLBROOK-GASH-GARRETT, ACEVEDO, MCKEON, 
   FEIGENHOLTZ, FRITCHEY, ERWIN AND CURRY,JULIE.

Short description: 
RAINY DAY EDUC FIRST ACT                                                   

Synopsis of Bill as introduced:
        Creates the Rainy Day Fund Act and amends the State Finance  Act.      
   Creates  the  Revenue  Stabilization Fund as a special fund within the      
   State treasury for use in meeting the State's obligations  and  casual      
   deficits.    Provides  that  for  any  year when the State's estimated      
   general funds revenues exceed the prior year's general funds  revenues      
   by more than 4%, the Governor shall submit to the General Assembly a        
   proposed budget that includes transfers into the Revenue Stabilization      
   Stabilization Fund of an amount not less than 0.25% of the anticipated      
   general  funds  revenues.   Provides  that  the General Assembly shall      
   appropriate no less than 0.25% of estimated revenues  to  the  Revenue      
   Stabilization  Fund.    Provides  for  the  transfer of funds into the      
   Revenue Stabilization Fund. Provides for transfers  into  the  General      
   Revenue  Fund  when that fund's resources are insufficient to meet the      
   State's obligations.  Effective immediately.                                
          FISCAL NOTE (State Treasurer)                                        
          HB75 will have no effect on the State's finances.                    
          FISCAL NOTE (Bureau of the Budget)                                   
          HB75 does not require the expenditure of funds by the State nor      
          does it change the revenues of the State.                            
 
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


   END OF INQUIRY 



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