History of Actions | Background | Title |
Description: State budget; revise the manner in which the Working Cash-Stabilization Reserve Fund is funded.
| 1 | 01/07/97 | (S) | Referred To Appropriations | |
| 2 | 02/04/97 | (S) | Died In Committee |
| Effective date | July 1, 1997 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
Principal Author: Kirby
Code Sections: A 027-0103-0203, A 027-0103-0125, A 027-0103-0139
Title: AN ACT TO AMEND SECTION 27-103-203, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY AMOUNT OF THE UNENCUMBERED GENERAL FUND CASH BALANCE AT THE CLOSE OF EACH FISCAL YEAR GREATER THAN 2% OF THE UNENCUMBERED BALANCE IN GENERAL FUNDS THAT WERE AVAILABLE AND ON HAND AT THE BEGINNING OF SUCH FISCAL YEAR AND THE GENERAL FUND REVENUE FOR SUCH FISCAL YEAR SHALL BE DEPOSITED INTO THE WORKING CASH-STABILIZATION RESERVE FUND UNTIL THE BALANCE IN SUCH FUND REACHES 7-1/2% OF THE GENERAL FUND APPROPRIATIONS FOR SUCH FISCAL YEAR; TO PROVIDE THAT IN THE EVENT THE BALANCE OF THE WORKING CASH-STABILIZATION RESERVE FUND REACHES 7-1/2% OF THE GENERAL FUND APPROPRIATIONS FOR SUCH FISCAL YEAR, ANY AMOUNT OF THE UNENCUMBERED GENERAL FUND CASH BALANCE GREATER THAN 2% OF THE UNENCUMBERED BALANCE IN GENERAL FUNDS THAT WERE AVAILABLE AND ON HAND AT THE BEGINNING OF SUCH FISCAL YEAR AND THE GENERAL FUND REVENUE FOR SUCH FISCAL YEAR SHALL BE TRANSFERRED TO THE EDUCATION ENHANCEMENT FUND, THE CAPITAL IMPROVEMENT FUND AND THE DEBT RETIREMENT FUND; TO CREATE A SPECIAL FUND TO BE DESIGNATED AS THE CAPITAL IMPROVEMENT FUND INTO WHICH CERTAIN REVENUE SHALL BE DEPOSITED FOR THE MAINTENANCE AND IMPROVEMENT OF PROPERTY OWNED BY THE STATE OF MISSISSIPPI OR TO FUND OTHER INFRASTRUCTURE PROJECTS; TO CREATE A SPECIAL FUND TO BE DESIGNATED AS THE DEBT RETIREMENT FUND INTO WHICH CERTAIN REVENUE SHALL BE DEPOSITED TO BE USED TO ACCELERATE THE RETIREMENT OR DEFEASANCE OF THE BONDED INDEBTEDNESS OF THE STATE OF MISSISSIPPI; TO AMEND SECTIONS 27-103-125 AND 27-103-139, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT FOR THE PURPOSE OF THE FORMULATION OF A BALANCED BUDGET FOR THE STATE, THE UNENCUMBERED BALANCES IN GENERAL FUNDS THAT WILL BE AVAILABLE AND ON HAND AT THE CLOSE OF THE FISCAL YEAR SHALL NOT INCLUDE CERTAIN ADDITIONAL SPECIAL FUNDS; AND FOR RELATED PURPOSES.
End Of Document
1997/History/SB\SB2037.htm