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SB21-283

Cash Fund Solvency

Concerning cash fund solvency, and, in connection therewith, creating the cash fund solvency fund to allow the state controller to transfer money to certain cash funds with anticipated cash deficits, which amounts will be later repaid, transferring money to the marijuana cash fund, and making and reducing an appropriation.
Session:
2021 Regular Session
Subject:
Fiscal Policy & Taxes
Bill Summary



The act creates the cash fund solvency fund from which the state controller may transfer money to another cash fund for which it is anticipated that there will be a cash deficit. Thereafter, the state controller is required to transfer the same amount of money from the cash fund back to the cash fund solvency fund in one or more installments, which may be over multiple fiscal years. The state controller is required to annually report to the joint budget committee and the office of state planning and budgeting about any transfers made.

The act also requires the state treasurer to transfer to the marijuana cash fund $1,805,317 from the marijuana tax cash fund and $1,200,000 from the general fund.

(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

COVID-19 Resources
NORTH ENTRANCE IS CURRENTLY CLOSED.  TO ENTER THE CAPITOL, USE THE SOUTH ENTRANCE, UNDER THE STAIRS, AT 14th AVENUE AND SHERMAN STREET.