HB874 REPEALS THE BUDGET STABILIZATION FUND AND THE CASH OPERATING RESERVE FUND.
Sponsor: Franklin, Richard (53) Effective Date:00/00/0000
CoSponsor: Shields, Charles W. (28) LR Number:1893-01
Last Action: COMMITTEE: FISCAL REVIEW
02/24/1999 - Reported Do Pass (H)
HB874
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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Available Bill Summaries for HB874 Copyright(c)
* Committee * Introduced

Available Bill Text for HB874
* Introduced *

Available Fiscal Notes for HB874
* Introduced *

BILL SUMMARIES

COMMITTEE

HB 874 -- CERTAIN FUNDS IN THE STATE TREASURY

CO-SPONSORS:  Franklin, Shields

COMMITTEE ACTION:  Voted "do pass" by the Committee on Fiscal
Review by a vote of 12 to 0.

This bill repeals the Budget Stabilization Fund and the Cash
Operating Reserve Fund.

The repeal is contingent upon voter approval of a constitutional
amendment (HJR 28) which creates the Budget Reserve Fund.

FISCAL NOTE:  Estimated Net Increase to Budget Reserve Fund of
$400,000,000 in FY 2001.  Estimated Net Decrease to Cash
Operating Reserve Fund of $270,000,000 in FY 2001.  Estimated
Net Decrease to Budget Stabilization Fund of $130,000,000 in FY
2001.

PROPONENTS:  Supporters say that this bill is necessary to
repeal certain obsolete statutory provisions if HJR 28 is
approved by voters.

Testifying for the bill was Representative Franklin.

OPPONENTS:  There was no opposition voiced to the committee.

Roland Tackett, Legislative Analyst


INTRODUCED

HB 874 -- Certain Funds in the State Treasury

Co-Sponsors:  Franklin, Shields

This bill repeals the Budget Stabilization Fund and the Cash
Operating Reserve Fund.

The repeal is contingent upon voter approval of a constitutional
amendment (HJR 28) which creates the Budget Reserve Fund.


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Last Updated September 30, 1999 at 1:27 pm