Bill > HB4805

This bill modifies how money from the Children's Trust Fund can be spent by adjusting the percentage of its "rolling average" that is available for disbursement. The Children's Trust Fund, established in the Department of Treasury, receives funds from various sources like income tax, vehicle registration fees, and civil fines. The "rolling average" refers to the average value of the fund over the past 12 quarters, including any gains or losses on investments, whether they have been sold or not. Currently, the law allows for up to 4.25% of this rolling average to be disbursed, but this bill proposes to increase that percentage to 8% starting in fiscal year 2025. This change is intended to make more funds available for programs aimed at preventing child abuse and neglect, as outlined in the Child Abuse and Neglect Prevention Act. The bill also specifies conditions for disbursement based on the fund's value, requiring it to be at least $23,500,000.00 for the higher disbursement rate to apply.