MISSISSIPPI LEGISLATURE
2003 Regular Session
To: Appropriations
By: Representative Capps, Read, Brown, Holland
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.