SB 455 - Gross, Charles
Requires the balance of all state funds in excess of 200 percent be transferred to the state General Revenue Fund every two years
Bill Details
Sponsor
LR Number
1569S.01I
Title
SB 455
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2007
Committee
Current Status
Hearing Conducted S Ways & Means Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 455 - This act requires the state treasurer to transfer the balance of any fund in excess of 200% of the previous fiscal year's expenditures into the state general revenue fund. This act applies to all state funds created by statute or administratively created by the office of administration.
This act does not apply to certain constitutionally created funds, special trust funds created by statute, funds for the payment of bonded indebtedness, and funds created to receive federal funds. Further, this act does not apply to any fund that is subject to current fund sweeps. For any fund in which statutory limitations allow the fund to accumulate balances equal to or greater than 200% of the previous year's expenditures, the act shall apply to the extent necessary to transfer any balance in excess of 200%.
JIM ERTLE