91st General Assembly
Summary of HB4530
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House Sponsors:

Short description: 
ST BUD-RAINY DAY & CHILD RESRV                                             

Synopsis of Bill as introduced:
        Creates the Rainy Day Budget Stabilization and Children First Act      
   and amends  the  State  Finance  Act.   Requires  the  Comptroller  to      
   transfer  from  the  General  Revenue  Fund, during fiscal  year 2001,      
   $50,000,000 into a Budget Stabilization Fund and  $50,000,000  into  a      
   Children  First  Reserve  Fund.   In  each subsequent fiscal year when      
   anticipated general revenues are estimated by the Governor  to  exceed      
   the  prior  fiscal  year's  revenues  by  more  than  4%, requires the      
   Comptroller to  transfer .25% of the  anticipated  revenues  from  the      
   General  Revenue  Fund  divided  equally into the Budget Stabilization      
   Fund and the  Children  First  Reserve  Fund.  Permits  suspension  of      
   transfers.   Authorizes  use  of the Budget Stabilization Fund to meet      
   general funds revenue shortfalls.  Limits  the  use  of  the  Children      
   First Reserve Fund to meet shortfalls in funding educational and child      
   care  programs.  Creates  the necessary special funds within the State      
   treasury.  Effective immediately.                                           
Last action on Bill: SESSION SINE DIE

   Last action date: 01-01-09

           Location: House

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


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