Bill
Bill > H0374
ID H0374
ID H0374Amends existing law to increase the percentage of General Fund receipts that may be in the Budget Stabilization Fund; repeals the authorization of the Economic Recovery Reserve Fund; transfers the remaining balance from the Economic Recovery Reserve Fund to the Budget Stabilization Fund; and transfers $20,000,000 from the General Fund to the Budget Stabilization Fund.
summary
Introduced
01/28/2020
01/28/2020
In Committee
Crossed Over
Passed
Dead
03/20/2020
03/20/2020
Introduced Session
2020 Regular Session
Bill Summary
APPROPRIATIONS -- BUDGET STABILIZATION FUND -- Amends existing law to increase the percentage of General Fund receipts that may be in the Budget Stabilization Fund; repeals the authorization of the Economic Recovery Reserve Fund; transfers the remaining balance from the Economic Recovery Reserve Fund to the Budget Stabilization Fund; and transfers $20,000,000 from the General Fund to the Budget Stabilization Fund.
AI Summary
This bill amends existing law to increase the percentage of General Fund receipts that may be in the Budget Stabilization Fund (also known as the "rainy day fund") from 10% to 15%. It repeals the authorization of the Economic Recovery Reserve Fund and transfers the remaining balance from that fund to the Budget Stabilization Fund. Additionally, the bill transfers $20 million from the General Fund to the Budget Stabilization Fund. These changes are intended to strengthen the state's fiscal reserves and provide a larger buffer against future economic downturns.
Committee Categories
Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Appropriations Committee (House)
Last Action
U.C. to be returned to Appropriations Committee (on 02/04/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2020/legislation/H0374/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2020/legislation/H0374.pdf |
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