1998 Session

Budget Amendments - HB30 (Conference Report)

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Health Insurance Fund (language only)

Item 552 #2c

Item 552 #2c

Central Appropriations
Central Appropriations

Page 329, strike lines 22 through 32, and insert:
"G. On July 1, 1998, the State Comptroller shall unreserve the $21,800,000 in the Payroll Reserve Fund and shall transfer $9,220,000 into the Employee Health Insurance Fund to be accounted for as a reserve component of this Fund.  The $9,220,000 represents the general fund share of the reserve.  Also, on July 1, 1998, the State Comptroller shall withhold from nongeneral fund agencies, and deposit into the Employee Health Insurance Fund, an amount estimated at $10,000,000 through surcharges or other measures consistent with generally accepted accounting principles.  This amount represents the nongeneral fund cost for the funding the reserve component.  The Department of Planning and Budget shall derive agency nongeneral fund costs based on nongeneral fund health insurance premium payments for fiscal year 1997."

(This amendment transfers approximately $20 million to the state employee Health Insurance Fund (HIF). Approximately $9.3 million is from the general fund and $10.0 million from nongeneral fund agencies. The transfer will occur on July 1, 1998.)