Print Friendly HOUSE BILL NO. 567 – Permanent Bldg Fund/year-end transf
HOUSE BILL NO. 567
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PERMANENT BUILDING FUND - Adds to existing law to provide for distribution
of fifty percent of any year-end balance in the General Fund to the
Permanent Building Fund.
02/15 House intro - 1st rdg - to printing
02/16 Rpt prt - to Approp
02/29 Rpt out - rec d/p - to 2nd rdg
03/01 2nd rdg - to 3rd rdg
03/03 3rd rdg - FAILED - 7-57-6
AYES -- Bell, Clark, Field(20), Geddes, Pischner, Trail, Wood
NAYS -- Alltus, Barraclough, Barrett, Bieter, Black, Boe, Bruneel,
Callister, Campbell, Chase, Cheirrett, Crow, Cuddy, Deal, Denney,
Ellsworth, Field(13), Gagner, Hadley, Hammond, Hansen(23), Henbest,
Hornbeck, Jaquet, Jones, Judd, Kellogg, Kempton, Kendell, Kunz, Lake,
Linford, Loertscher, Mader, Marley, McKague, Meyer, Mortensen, Moss,
Moyle, Pearce, Pomeroy, Reynolds, Ridinger, Ringo, Robison, Sali,
Schaefer(Tiegs), Sellman, Shepherd, Stevenson, Stoicheff, Stone,
Taylor, Tilman, Wheeler, Zimmermann
Absent and excused -- Gould, Hansen(29), Montgomery, Smith, Smylie,
Floor Sponsor - Clark
Filed with Chief Clerk
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-fifth Legislature Second Regular Session - 2000
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 567
BY APPROPRIATIONS COMMITTEE
1 AN ACT
2 RELATING TO THE GENERAL FUND; AMENDING CHAPTER 35, TITLE 67, IDAHO CODE, BY
3 THE ADDITION OF A NEW SECTION 67-3529, IDAHO CODE, TO PROVIDE FOR DISTRI-
4 BUTION OF A YEAR-END BALANCE IN THE GENERAL FUND.
5 Be It Enacted by the Legislature of the State of Idaho:
6 SECTION 1. That Chapter 35, Title 67, Idaho Code, be, and the same is
7 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
8 ignated as Section 67-3529, Idaho Code, and to read as follows:
9 67-3529. YEAR-END TRANSFER. At the end of each fiscal year, the state
10 controller shall transfer fifty percent (50%) of the unexpended, unencumbered,
11 and otherwise unappropriated balance of the general fund into the permanent
12 building fund created in section 57-1108, Idaho Code.
STATEMENT OF PURPOSE
The purpose of this legislation is to provide a mechanism
to automatically transfer one-half of any year-end general
fund surpluses to the permanent building fund. Currently,
the permanent building fund is seriously under-funded and
receives about $30 million per year from eight fund sources
that include income tax, cigarette tax, beer tax, sales tax,
lottery dividends, capitol mall parking receipts, interest
from the budget stabilization fund, and interest from the
permanent building fund.
There will be a fiscal impact on the general fund at the end
of any fiscal year in which there is a positive balance of
unexpended, unencumbered, and otherwise unappropriated balances.
The state controller will transfer one-half of that balance
to the permanent building fund.
Contact: Representative Jim Clark 332-1000
STATEMENT OF PURPOSE/FISCAL NOTE H 567