MISSISSIPPI LEGISLATURE

2003 Regular Session

To: Appropriations

By: Representative Capps, Read, Brown, Holland

House Bill 1667

AN ACT TO DIRECT THE TREASURER TO TRANSFER CERTAIN FUNDS TO THE BUDGET CONTINGENCY FUND; TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO BE KNOWN AS THE SPECIAL FUNDS TRANSFER FUND, WHICH SHALL BE COMPRISED OF THE MONIES REQUIRED TO BE DEPOSITED INTO THE FUND UNDER SECTION 27-65-75(18), MISSISSIPPI CODE OF 1972; AND FOR RELATED PURPOSES.

     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

     SECTION 1.  (1)  From May 1, 2003, until June 30, 2003, the State Treasurer shall transfer to the Budget Contingency Fund created in Section 27-103-301, Mississippi Code of 1972, an amount equal to Twelve Million Five Hundred Thousand Dollars ($12,500,000.00) on the first day of each month from the aggregate of special funds in the State Treasury.

     (2)  From July 1, 2003, until June 30, 2004, the State Treasurer shall transfer to the Budget Contingency Fund created in Section 27-103-301, Mississippi Code of 1972, an amount equal to Four Million Eighty-three Thousand Three Hundred Thirty-four Dollars ($4,083,334.00) on the first day of each month from the aggregate of special funds in the State Treasury.

     (3)  The State Treasurer shall determine which special funds shall be transferred to the Budget Contingency Fund each month under subsections (1) and (2) of this section and shall notify the appropriate agency, except that the Working Cash-Stabilization Reserve Fund, trust funds, bond proceed funds, federal funds, special-source funds used to match federal funds, special-source funds to the credit of the Mississippi Department of Transportation, special-source funds listed in Section 2 of this act and special-source funds to the credit of the Department of Mental Health derived from client care shall be exempt from any required transfer under this section.  Upon notification from the State Treasurer, the agency shall make the transfer from its special funds as required by the State Treasurer.

     SECTION 2.  (1)  The State Treasurer shall transfer to the Budget Contingency Fund created in Section 27-103-301, Mississippi Code of 1972, out of the following enumerated funds, the amount listed below for each fund throughout the period beginning upon the passage of this act and ending June 30, 2003:

Agency/Fund                         Fund No.              Amount

Unclaimed Property Fund               3178         $10,000,000.00

Department of Environmental

     Quality                                      $ 6,000,000.00

Total                                             $16,000,000.00

     (2)  The State Treasurer shall transfer to the Budget Contingency Fund created in Section 27-103-301, Mississippi Code of 1972, out of the following fund, the amount listed below for the fund throughout the period beginning upon the July 1, 2003, and ending June 30, 2004:

Agency/Fund                         Fund No.              Amount

Tort Claims Fund                      3080        $14,000,000.00

     (3)  Upon notification from the State Treasurer, the appropriate agency shall make the transfer from its special funds as required by the State Treasurer. 

     SECTION 3.  (1)  The State Treasurer shall transfer to the Budget Contingency Fund created in Section 27-103-301, Mississippi Code of 1972, out of the following enumerated funds, amounts listed below for each fund throughout the period beginning upon passage of this act and through June 30, 2003:

Agency/Fund                         Fund No.              Amount

State General Fund                               $  3,600,000.00

Working Cash-Stabilization

  Reserve Fund                                   $10,854,000.00

UM - State Court Education Program    3257       $    100,000.00

Department of Health                  3301       $  2,500,000.00

Employment Compensation Revolving

  Fund                                3644       $  1,000,000.00

Unclaimed Property Fund               3178       $  5,000,000.00

Gaming Commission                     3188       $    299,391.00

Department of Insurance          3501/3503       $    400,000.00

Camp Shelby Timber Fund               3700       $    100,000.00

Real Estate Appraisers Licensing

  and Certification Board             3836       $    100,000.00

Public Contractors Board              3834       $    300,000.00

DPS - Law Enforcement Officers'

  Standards and Training Board        3742       $  2,100,000.00

DPS - Emergency Telecommunications

  Standards and Training Board        3744       $  2,000,000.00

DPS - Crime Stoppers                  371D       $    200,000.00

DPS - County Jail Officers Board      3741       $    200,000.00

Board of Bar Admissions               3055       $    300,000.00

Board of Nursing                      3838       $    200,000.00

Motor Vehicle Commission              3839       $    100,000.00

Board of Registration of Foresters    3844       $    100,000.00

Board of Pharmacy                     3846       $    750,000.00

Criminal Justice Fund                 3086       $    350,000.00

MDA - CAP Loan Program                34KX       $  1,500,000.00

Total                                            $32,053,391.00

     (2)  From and after July 1, 2003, the State Treasurer shall transfer to the Budget Contingency Fund created in Section 27-103-301, Mississippi Code of 1972, out of the following enumerated funds, amounts listed below for each fund throughout the period beginning July 1, 2003, and through June 30, 2004:

Agency/Fund                         Fund No.              Amount

State General Fund                               $147,820,054.00

Department of Transportation          3941       $50,000,000.00

DPS - Emergency Telecommunications

Standards and Training Board         3744       $  1,000,000.00

Workers' Compensation Commission      3521       $    100,000.00

Board of Bar Admissions               3055       $     50,000.00

Auctioneers Commission                3820       $    100,000.00

Board of Pharmacy                     3846       $    250,000.00

MDA - CAP Loan Program                34KX       $  2,000,000.00

Securities Act Enforcement Fund   3111/3114       $  2,600,000.00

School Ad Valorem Tax Reduction Fund             $46,000,000.00

Total                                            $249,920,054.00

     In addition to the amounts transferred to the Budget Contingency Fund under the provisions of this act, the Budget Contingency Fund is hereby authorized to receive any additional funds that may become available to the fund from any source during the period beginning upon passage of this act and through June 30, 2004.

     SECTION 4.  (1)  There is created in the State Treasury a special fund to be known as the Special Funds Transfer Fund, which shall be comprised of the monies required to be deposited into the fund under Section 27-65-75(18) for the repayment of certain funds transferred to the Budget Contingency Fund.  Upon receipt of monies deposited into the fund under Section 27-65-75(18), the State Treasurer shall transfer those monies to the special funds from which transfers were made pursuant to Sections 1 and 2 of this act.

     (2)  Unexpended amounts remaining in the fund on September 30, 2005, shall lapse into the State General Fund, and any interest earned or investment earnings on amounts in the fund shall be deposited to the credit of the fund.

     SECTION 5.  This act shall take effect and be in force from and after its passage.