Bill
Bill > H0449
ID H0449
ID H0449Amends and repeals existing law to increase the percentage of General Fund receipts that may be in the Budget Stabilization Fund and to remove 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
02/07/2020
02/07/2020
In Committee
02/25/2020
02/25/2020
Crossed Over
02/20/2020
02/20/2020
Passed
Dead
Signed/Enacted/Adopted
03/12/2020
03/12/2020
Introduced Session
2020 Regular Session
Bill Summary
APPROPRIATIONS -- BUDGET STABILIZATION FUND -- Amends and repeals existing law to increase the percentage of General Fund receipts that may be in the Budget Stabilization Fund and to remove 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 and repeals existing law to increase the percentage of General Fund receipts that may be held in the Budget Stabilization Fund (from 10% to 15%), removes 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. The goal of these changes is to strengthen the state's budget stabilization efforts by consolidating the funds and increasing the allowable amount in the Budget Stabilization Fund.
Committee Categories
Budget and Finance, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Appropriations Committee (House)
Last Action
Reported Signed by Governor on March 11, 2020 Session Law Chapter 112 Effective: 03/11/2020 SECTION 3 & 4; 07/01/2020 SECTION 2; 07/01/2021 SECTION 1 (on 03/12/2020)
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/H0449/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2020/legislation/H0449.pdf |
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