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1998 Session

Budget Amendments - SB29 (Committee Approved)

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Century Date Change Compliance Contingency Fund

Item 86 #2s

Item 86 #2s

First Year - FY1997 Second Year - FY1998
Administration
Council On Information Management FY1997 $0 FY1998 $5,000,000 GF

Language
Page 30, line 14, strike "$985,704" and insert "$5,985,704".
Page 58, following line 47, insert
"D.  There is hereby created in the state treasury a special nonreverting fund to be known as the Century Date Change Compliance Contingency Fund ("the Fund"), into which the sum of $5,000,000 is hereby appropriated from the general funds of the Commonwealth.  The Fund shall be established ion the books of the Comptroller.  Interest earned on moneys in the Fund shall remain in the Fund and be credited to it.  Any moneys remaining in the Fund, including interest thereon, at the end of fiscal year 1997 shall not revert to the general fund but shall remain in the Fund.  Moneys in the Fund shall be used solely for the purpose of making the Commonwealth's computers, computer applications, and other date-sensitive electronic equipment compliant with the standards necessary to operate such electronic equipment after December 31, 1999.  Expenditures and disbursements from the fund shall be made by the State Treasurer on warrants issued by the Comptroller upon written request signed by the Secretary of Administration with the recommendation of the Project Office Director."


Explanation
(This amendment creates a $5.0 million special nonreverting fund to be known as the Century Date Change Compliance Contingency Fund. The Fund will be used solely for the purpose of making the Commonwealth's computers, computer applications, and other date-sensitive electronic equipment compliant with the standards necessary to operate such electronic equipment after December 31, 1999.)