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SB20-134

Estimate Of Non-fee Sources Of Cash Fund Revenue

Concerning the repeal of certain language used to determine cash fund revenue that is derived from non-fee sources when calculating the amount of uncommitted reserves in a cash fund at the end of a fiscal year.
Session:
2020 Regular Session
Subject:
State Government
Bill Summary

Statutory Revision Committee. Current law limits the amount of uncommitted reserves that may remain in a cash fund at the end of any fiscal year. The definition of "uncommitted reserves" excludes revenue credited to a cash fund that is estimated to be derived from non-fee sources.

Current law further specifies that when calculating the estimated revenue from non-fee sources, the estimate is required to be an amount equal to the portion of total revenues received from non-fee sources in the prior fiscal year. This requirement and, in particular, the phrase "prior fiscal year" is causing confusion among executive branch departments and is not necessary for the proper administration of the statute. The bill repeals the requirement that the estimate for non-fee revenue is equal to the portion of total revenues received from non-fee sources in the prior fiscal year.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    Signed Act PDF
    03/17/2020 Final Act PDF
    03/11/2020 Rerevised PDF
    03/10/2020 Revised PDF
    02/18/2020 Reengrossed PDF
    02/14/2020 Engrossed PDF
    01/27/2020 Introduced PDF

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