Senate Amendments to House Bill No. 1408

 

TO THE CLERK OF THE HOUSE:

 

  THIS IS TO INFORM YOU THAT THE SENATE HAS ADOPTED THE AMENDMENTS SET OUT BELOW:

 

 

AMENDMENT NO. 1

 

     Amend by striking all after the enacting clause and inserting in lieu thereof the following:

 


     SECTION 1.  Section 43-13-407, Mississippi Code of 1972, is amended as follows:

     43-13-407.  (1)  In accordance with the purposes of this article, there is established in the State Treasury the Health Care Expendable Fund, into which shall be transferred from the Health Care Trust Fund the following sums:

          (a)  In fiscal year 2005, Four Hundred Sixteen Million Dollars ($416,000,000.00);

          (b)  In fiscal year 2006, One Hundred Eighty-six Million Dollars ($186,000,000.00);

          (c)  In fiscal year 2007, One Hundred Forty-six Million Dollars ($146,000,000.00);

          (d)  In fiscal year 2008, One Hundred Six Million Dollars ($106,000,000.00);

          (e)  In fiscal year 2009, Sixty-six Million Dollars ($66,000,000.00);

          (f)  In fiscal year 2010 and each fiscal year thereafter, a sum equal to the average annual amount of the dividends, interest and other income, including increases in value of the principal, earned on the funds in the Health Care Trust Fund during the preceding four (4) fiscal years.

     (2)  In any fiscal year in which interest, dividends and other income from the investment of the funds in the Health Care Trust Fund are not sufficient to fund the full amount of the annual transfer into the Health Care Expendable Fund as required in subsection (1)(f) of this section, the State Treasurer shall transfer from tobacco settlement installment payments an amount that is sufficient to fully fund the amount of the annual transfer.

     (3)  (a)  On March 6, 2002, the State Treasurer shall transfer the sum of Eighty-seven Million Dollars ($87,000,000.00) from the Health Care Trust Fund into the Health Care Expendable Fund.  In addition, at the time the State of Mississippi receives thetobacco settlement installment payments for each of the calendar years 2002 and 2003, the State Treasurer shall deposit the full amount of each of those installment payments into the Health Care Expendable Fund.

          (b)  If during any fiscal year after March 6, 2002, the general fund revenues received by the state exceed the general fund revenues received during the previous fiscal year by more than five percent (5%), the Legislature shall repay to the Health Care Trust Fund one-third (1/3) of the amount of the general fund revenues that exceed the five percent (5%) growth in general fund revenues.  The repayment required by this paragraph shall continue in each fiscal year in which there is more than five percent (5%) growth in general fund revenues, until the full amount of the funds that were transferred and deposited into the Health Care Expendable Fund under the provisions of paragraph (a) of this subsection have been repaid to the Health Care Trust Fund.

     (4)  All income from the investment of the funds in the Health Care Expendable Fund shall be credited to the account of the Health Care Expendable Fund.  Any funds in the Health Care Expendable Fund at the end of a fiscal year shall not lapse into the State General Fund.

     (5)  The funds in the Health Care Expendable Fund shall be available for expenditure under specific appropriation by the Legislature beginning in fiscal year 2000, and shall be expended exclusively for health care purposes.

     (6)  The provisions of subsection (1) of this section may not be changed in any manner except upon amendment to that subsection by a bill enacted by the Legislature with a vote of not less than three-fifths (3/5) of the members of each house present and voting.

     (7)  Subsections (1), (2), (4) and (5) of this section shall stand repealed on July 1, 2009.

     SECTION 2.  This act shall take effect and be in force from and after its passage.


     Further, amend by striking the title in its entirety and inserting in lieu thereof the following:

 


     AN ACT TO AMEND SECTION 43-13-407, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT IN FISCAL YEAR 2005 CERTAIN ADDITIONAL SUMS SHALL BE TRANSFERRED FROM THE HEALTH CARE TRUST FUND TO THE HEALTH CARE EXPENDABLE FUND; AND FOR RELATED PURPOSES.


 

SS26\HB1408A.1J

 

                                                 John O. Gilbert

                                         Secretary of the Senate