SB 917 - This act requires that the balance of all state funds, beginning July 1, 2006, shall be transferred and credited to the state general revenue fund. All future revenue from such funds shall thereafter be credited to the general revenue fund. This act provides that the original purpose established for the expenditure of such state funds shall not be altered by the transfer of moneys in the fund to the general revenue fund. Certain funds are exempted from the provisions of the required balance transfer.
Additionally, beginning July 1, 2006, this act requires that the balance of all funds administratively created by the Office of Administration shall be transferred and credited to the state general revenue fund. Thereafter, all such funds are to be abolished and the office of administration is prohibited from creating new funds. The provisions of this prohibition shall not apply to funds for the payment of bonded indebtedness and funds created in order to receive and disburse federal funds.