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2002 Session

Budget Amendments - HB30 (Member Request)

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Chief Patron: Governor Warner
Group Life Rate Reduction (language only)

Item 3-1.01 #10h

Item 3-1.01 #10h

Transfers
Interfund Transfers

Language
Page 419, after line 24, insert:
"AA. Prior to June 20, 2003, the State Comptroller shall transfer from agency nongeneral fund accounts an amount estimated at $7,115,687 for the reduction in state employee group life contributions for fiscal year 2003.  Prior to June 20, 2004, the State Comptroller shall transfer from agency nongeneral fund accounts an amount estimated at $7,425,066 for the reduction in state employee group life contributions for fiscal year 2004.  Appropriated funds from federal sources are exempt from this transfer."


Explanation
(This amendment captures the nongeneral fund savings associated with a reduction in group life contribution rates.)