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HCR009....................................................by APPROPRIATIONS
BUDGET STABILIZATION FUND - Directing the State Controller to not transfer
moneys to the Budget Stabilization Fund in Fiscal Year 2000.
01/19 House intro - 1st rdg - to printing
01/20 Rpt prt - to Approp
02/08 Rpt out - rec d/p - to 2nd rdg
02/09 2nd rdg - to 3rd rdg
02/10 3rd rdg - ADOPTED - 66-0-4
AYES -- Alltus, Barraclough, Barrett, Bell, Bieter, Black, Boe,
Bruneel, Callister, Campbell, Chase, Clark, Crow, Cuddy, Deal,
Denney, Ellsworth, Field(13), Field(20), Gagner, Geddes, Gould,
Hadley, Hammond, Hansen(23), Hansen(29), Henbest, Hornbeck, Judd,
Kellogg, Kempton, Kendell, Kjellander, Kunz, Lake, Limbaugh, Linford,
Mader, Marley, McKague, Meyer, Montgomery, Mortensen, Moyle,
Pischner, Pomeroy, Reynolds, Ridinger, Ringo, Robison, Sali,
Schaefer, Sellman, Smith, Stevenson, Stoicheff, Stone, Tilman,
Tippets, Trail, Watson, Wheeler, Williams, Wood, Zimmermann,
Mr Speaker
NAYS -- None
Absent and excused -- Jaquet, Jones, Loertscher, Taylor
Floor Sponsor - Bell
Title apvd - to Senate
02/11 Senate intro - 1st rdg - to Fin
02/17 Rpt out - rec d/p - to 10th Ord
02/18 10th ord - ADOPTED - voice vote
Title apvd - to House
02/19 To enrol
02/22 Rpt enrol - Sp signed
02/23 Pres signed
02/24 To Secretary of State
HCR009|||| LEGISLATURE OF THE STATE OF IDAHO |||| Fifty-fifth Legislature First Regular Session - 1999IN THE HOUSE OF REPRESENTATIVES HOUSE CONCURRENT RESOLUTION NO. 9 BY APPROPRIATIONS COMMITTEE 1 A CONCURRENT RESOLUTION 2 STATING FINDINGS OF THE LEGISLATURE REGARDING THE BUDGET STABILIZATION FUND 3 AND DIRECTING THE STATE CONTROLLER TO NOT TRANSFER GENERAL FUNDS TO THE 4 BUDGET STABILIZATION FUND IN FISCAL YEAR 2000. 5 Be It Resolved by the Legislature of the State of Idaho: 6 WHEREAS, the Economic Outlook and Revenue Assessment Committee of the 7 First Regular Session of the Fifty-fifth Idaho Legislature has determined that 8 the executive revenue projection is a reasonable revenue estimate; and 9 WHEREAS, Section 57-814(2)(a), Idaho Code, directs the State Controller to 10 transfer certain funds to the Budget Stabilization Fund only if revenues are 11 in excess of four percent over the previous fiscal year; and 12 WHEREAS, the executive revenue projection for fiscal year 1999 is less 13 than a four percent increase over the previous fiscal year; and 14 WHEREAS, Section 57-814(3), Idaho Code, authorizes the Legislature through 15 concurrent resolution to reduce the transfers made by the State Controller to 16 the Budget Stabilization Fund. 17 NOW, THEREFORE, BE IT RESOLVED by the members of the First Regular Session 18 of the Fifty-fifth Idaho Legislature, the House of Representatives and the 19 Senate concurring therein, that the State Controller is hereby directed not to 20 transfer general funds to the Budget Stabilization Fund pursuant to Section 21 57-814, Idaho Code, during fiscal year 2000.
STATEMENT OF PURPOSE
RS 08551
This Concurrent Resolution is required to direct the State
Controller to not transfer General Funds into the Budget
Stabilization Fund during fiscal year 2000. Idaho Code 57814
directs the State Controller to transfer an amount of General
Fund appropriation into the Budget Stabilization Fund if revenues
increase four percent or more from one fiscal year to the next.
Since the Legislature has endorsed the Governor's revenue
projection, and that projection is less than four percent for
fiscal year 1999 and fiscal year 2000, this resolution would
ensure that the transfer would not take place in fiscal year
2000. The Budget Stabilization Fund statute allows the
Legislature, by resolution, to reduce the amount transferred in
any given year.
FISCAL NOTE
As a result of this resolution, $16,108,000 in General Fund money
will remain in the General Fund during FY 2000 rather than being
transferred into the Budget Stabilization Fund.
CONTACT: Senator Atwell Parry
334-4735
STATEMENT OF
PURPOSE/FISCAL NOTE Bill No. HCR 9