SB 222 – Requires the balance of all state funds to be transferred and credited to the state General Revenue Fund if state revenue does not increase by more than 2 percent

• Sponsor: Gross
• LR Number: 1197S.01I
• Committee: Ways & Means
• Last Action: 2/19/2007 - Hearing Conducted S Ways & Means Committee
• Effective Date: Emergency Clause

Current Bill Summary

SB 222 - This act requires the State Treasurer to deposit all moneys received under any state fund or administratively created fund into the state general revenue fund from January 1st to June 30th of the current fiscal year if the state's net general revenue collections did not increase by two percent or more over the past fiscal year. If state's net general revenues do increase by more than two percent, the State Treasurer shall deposit such moneys into the statutorily or administratively created fund. The provisions of this act shall not apply to any fund created by the constitution, funds for the payment of interest and principal for any bonded indebtedness, funds that receive constitutionally created taxes and fees, and funds created in order to receive and disburse federal funds.

This act contains an emergency clause.

This act is similar to SCS/SB 917 (2006) and SB 208 (2007).

JIM ERTLE