Inactive Cash Funds

The act requires the office of the state controller (office) to transfer, unless otherwise provided by law, on June 30, 2025, and each June 30 thereafter, the balance of any repealed cash fund to the general fund. The act requires the office to annually submit a report to the joint budget committee that:

• Identifies any cash funds that have not been appropriated from in the last 2 state fiscal years and the balance of those funds; and
• Identifies the total amount that the office has transferred to the general fund from repealed cash funds in the preceding state fiscal year.
  (Note: This summary applies to this bill as enacted.)