Rainy Day Fund to FY 2004

Item 280 #2h

Language
Page 207, strike lines 14 through 20 and insert:
"If the Auditor of Public Account's certification of the required deposit to the revenue stabilization fund attributable to actual tax collections for fiscal year 2004 exceeds the $87.0 million deposited into the fund in fiscal year 2004 pursuant to House Bill 29 of the 2004 General Assembly, the incremental amount required to meet the actual required deposit as certified by the Auditor of Public Accounts shall be deposited into the Revenue Stabilization Fund by no later than June 30, 2006.

Explanation
(This amendment removes the deposit of $87.0 million to the Rainy Day Fund that is required based on estimates of Fiscal Year 2004 revenues. This deposit was made in FY 2004 pursuant to House Bill 29 adopted by the 2004 General Assembly.)