2014 Session

Budget Amendments - HB29 (Committee Approved)

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GOF Balance Reversion (language only)

Item 3-1.01 #5h

Item 3-1.01 #5h

Interfund Transfers

Page 251, after line 38, insert:
"TT. On or before June 30 of the second year the State Comptroller shall transfer $10,700,000 to the general fund from accumulated balances in the Governor's Opportunity Development Fund (Fund 0910, Agency 192).  This action shall be in addition to the amounts referenced in paragraph PP of this item."

(This amendment captures $10.7 million in accumulated balances in the Governor's Opportunity Fund. As of January, 2014 balances in the fund after setting aside a 40% reserve for pre-approvals totaled $27.5 million with only 6 months remaining in the biennium and annual appropriations of $11.8 million per year available for the fund in the next biennium, equal to the amounts appropriated in the current biennium.)