House Bill NO. 1605

By Senator(s) Johnson(19)

SECTION *. It is the intention of the Legislature that two percent (2%) of the State General Funds appropriated in this act shall be set-aside and held in reserve until December 31, 2001. If fiscal year 2002 revenue collections deposited into the State General Fund are three and seven tenths percent (3.7%) or greater through December 31, 2001, then the two percent (2%) held in reserve pursuant to this section shall no longer be required to be held in reserve but shall be available for expenditure. However, if fiscal year 2002 revenue collections deposited into the State General Fund are less than three and seven tenths percent (3.7%) through December 31, 2001, then the two percent (2%) required to be held in reserve pursuant to this section shall continue to be set-aside and held in reserve so that two percent (2%) of the State General Funds appropriated in this act are not expended during fiscal year 2002.