Eliminate Comptroller Language (language only)

Item 4-1.07 #1s

Language
Page 581, strike lines 51-52.
Page 582, strike lines 1-3.
Page 581, following line 50, insert:
"Notwithstanding any contrary provision of law, the State Comptroller may begin preparing the accounts of the Commonwealth for each subsequent fiscal year on or about ten (10) days before the start of such fiscal year.  The books will be open only to enter budgetary transactions and transactions that will not require the receipt or disbursement of funds until after June 30.  Should an emergency arise, or in years in which July 1 falls on a weekend requiring the processing of transactions on or before June 30, the State Comptroller may, with the concurrence of the Auditor of Public Accounts, authorize the disbursement of funds drawn against appropriations of the subsequent fiscal year, not to exceed the sum of three million dollars ($3,000,000) from the general fund.  This provision does not apply to debt service payments on bonds of the Commonwealth which shall be made in accordance with bond documents, trust indentures, and/or escrow agreements."

Explanation
(This amendment provides authority for the State Comptroller to begin preparing the accounts of the Commonwealth to receive budget transactions for a given fiscal year ten days before the start of the fiscal year and further provides limited authority to process disbursements against the accounts, in an emergency situation, but only with the concurrence of the Auditor of Public Accounts.)