2004 Special Session I

Budget Amendments - HB5001 (Conference Report)

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Remove Mandatory Rainy Day Fund Deposit Made in HB/SB 29

Item 280 #2c

Item 280 #2c

First Year - FY2005 Second Year - FY2006
Accounts Transfer Payments, Department of FY2005 $0 FY2006 ($87,000,000) GF

(This amendment removes $87.0 million included from the general fund for a mandatory deposit to the Rainy Day Fund. Although the State Constitution requires that based upon the total revenues collected in fiscal year 2003 a deposit be made into the fund by fiscal year 2006, the Constitution does not preclude the payment of this deposit earlier. Therefore, this deposit will be made in fiscal year 2004 in order to provide a greater opportunity for interest earnings on the Revenue Stabilization Fund's balances.)