2005 Regular Session
By: Representative Miles, Sullivan, Montgomery, Markham, Ward, Holland, Franks, Moss, Cummings, Hudson, Weathersby, Gadd, Staples, Robinson (84th), Akins
AN ACT TO AMEND SECTION 8, CHAPTER 595, LAWS OF 2004, TO PROVIDE THAT FROM AND AFTER THE PASSAGE OF HOUSE BILL NO. ___, 2005 REGULAR SESSION, FUNDS OF THE OFFICE OF STATE AID ROAD CONSTRUCTION SHALL BE EXEMPT FROM ANY REQUIRED TRANSFER OF FUNDS TO THE BUDGET CONTINGENCY FUND; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 8, Chapter 595, Laws of 2004, is amended as follows:
Section 8. (1) During the period beginning upon July 1, 2004, and until June 30, 2005, the State Fiscal Officer shall transfer to the Budget Contingency Fund created in Section 27-103-301, from the aggregate of special funds in the State Treasury, an amount equal to Eighty-three Million Four Hundred Thousand Dollars ($83,400,000.00). Not later than July 31, 2004, the State Fiscal Officer shall notify each agency that is subject to the provisions of this section of the total amount of funds that the agency shall transfer during the fiscal year and the time period or periods within which the funds must be transferred. The funds shall be transferred in accordance with a schedule established by the State Fiscal Officer, but the total amount transferred in any one (1) month shall not exceed Twenty Million Eight Hundred Fifty Thousand Dollars ($20,850,000.00).
(2) The State Fiscal Officer shall determine which special funds shall be transferred to the Budget Contingency Fund at any time under this section and shall notify the appropriate agencies, 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 to the credit of the Department of Mental Health derived from client care, * * * special-source funds to the credit of the Telecommunications Ad Valorem Tax Reduction Fund established under Section 27-38-7, and, beginning from and after the effective date of House Bill No. , 2005 Regular Session, funds of the Office of State Aid Road Construction, shall be exempt from any required transfer under this section. Upon notification from the State Fiscal Officer, the agency shall make the transfer from its special funds as required by the State Fiscal Officer.
SECTION 2. This act shall take effect and be in force from and after its passage.