2002 Legislation
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SENATE BILL NO. 1301 – Budget Stabilization Fund/transfers

SENATE BILL NO. 1301

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Daily Data Tracking History



S1301............................................................by FINANCE
BUDGET STABILIZATION FUND - Stating findings of the Legislature;
appropriating $9,923,000 from the Budget Stabilization Fund to the General
Fund; and directing the State Controller not to transfer moneys to the
Budget Stabilization Fund for fiscal year 2002.
                                                                        
01/18    Senate intro - 1st rdg - to printing
01/21    Rpt prt - to Fin
    Rpt out - rec d/p - to 2nd rdg
    2nd rdg - to 3rd rdg
01/23    3rd rdg - PASSED - 34-0-1
      AYES -- Andreason, Boatright, Brandt, Bunderson, Burtenshaw, Cameron,
      Darrington, Davis, Deide, Dunklin, Frasure, Geddes, Goedde, Hawkins,
      Hill, Ingram, Ipsen(Messinger), Keough, King-Barrutia, Little, Lodge,
      Marley, Noh, Richardson, Risch, Sandy, Schroeder, Sims, Sorensen,
      Stegner, Stennett, Thorne, Wheeler, Williams
      NAYS -- None
      Absent and excused -- Branch
    Floor Sponsor - Cameron
    Title apvd - to House
01/24    House intro - 1st rdg - to 2nd rdg
01/25    2nd rdg - to 3rd rdg
01/28    3rd rdg - PASSED - 70-0-0
      AYES -- Aikele, Barraclough, Barrett, Bedke, Bell, Bieter, Black,
      Block, Boe, Bolz, Bradford, Bruneel, Callister, Campbell, Clark,
      Collins, Crow, Cuddy, Deal, Denney, Ellis, Ellsworth, Eskridge,
      Field(13), Field(20), Gagner, Gould, Hadley, Hammond, Harwood,
      Henbest, Higgins, Hornbeck, Jaquet, Jones, Kellogg, Kendell, Kunz,
      Lake, Langford, Loertscher, Mader, Martinez, McKague, Meyer,
      Montgomery, Mortensen, Moyle, Pearce, Pischner, Pomeroy, Raybould,
      Ridinger, Roberts, Robison, Sali, Schaefer, Sellman, Shepherd,
      Smith(33), Smith(23), Smylie, Stevenson, Stone, Tilman, Trail,
      Wheeler, Wood, Young, Mr. Speaker
      NAYS -- None
      Absent and excused -- None
    Floor Sponsor - Clark
    Title apvd - to Senate
01/29    To enrol
01/30    Rpt enrol - Pres signed
01/31    Sp signed
02/01    To Governor
02/05    Governor signed
         Session Law Chapter 4
         Effective: 02/05/02

Bill Text


                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-sixth Legislature                  Second Regular Session - 2002
                                                                        
                                                                        
                                       IN THE SENATE
                                                                        
                                    SENATE BILL NO. 1301
                                                                        
                                    BY FINANCE COMMITTEE
                                                                        
  1                                        AN ACT
  2    STATING FINDINGS OF THE LEGISLATURE; APPROPRIATING MONEYS FROM THE BUDGET STA-
  3        BILIZATION FUND TO THE GENERAL FUND; DIRECTING THE STATE CONTROLLER NOT TO
  4        TRANSFER ADDITIONAL GENERAL FUNDS INTO THE BUDGET STABILIZATION FUND;  AND
  5        DECLARING AN EMERGENCY.
                                                                        
  6    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  7        SECTION 1.  The Legislature finds that the current economic situation fac-
  8    ing  the  state  of  Idaho, and underscored by the revenue projection from the
  9    Governor's Office and the analysis done by the Legislature's Economic  Outlook
 10    Committee,  warrants setting aside the transfer of General Funds to the Budget
 11    Stabilization Fund in fiscal year 2002 in order to ensure a balanced budget.
                                                                        
 12        SECTION 2.  There is hereby appropriated and transferred from  the  Budget
 13    Stabilization Fund to the General Fund the sum of $9,923,000.
                                                                        
 14        SECTION  3.  Notwithstanding the provisions of Section 57-814, Idaho Code,
 15    to the contrary, the State Controller is hereby directed not to  transfer  any
 16    additional  General Funds to the Budget Stabilization Fund pursuant to Section
 17    57-814, Idaho Code, during fiscal year 2002.
                                                                        
 18        SECTION 4.  An emergency existing  therefor,  which  emergency  is  hereby
 19    declared to exist, this act shall be in full force and effect on and after its
 20    passage and approval.

Statement of Purpose / Fiscal Impact


	              STATEMENT OF PURPOSE
                             RS11721

This bill will insure that no funds are transferred from the 
General Fund to the Budget Stabilization Fund during this 
current fiscal year (FY 2002) . This action is necessary as a 
key component of balancing the current General Fund Budget, and 
will augment scarce General Funds by almost $20 million.


                           FISCAL NOTE

The transfers take place in four equal installments; in 
September, December, March, and June. Because the September 
and December transfers have already taken place ($4,961,500 for 
each transfer) , it is necessary to transfer that money back out 
of the Budget Stabilization Fund to the General Fund with an 
appropriation. That appropriation totals $9,923,000 and is found 
in section 2 of this bill. Section three takes care of the two 
spring transfers by simply directing the State Controller not 
to make those transfers, which will provide another $9,923,000 
for the General Fund this year. The total amount therefore that 
will stay in the General Fund is $19, 846, 000.




Contact:

STATEMENT OF PURPOSE/FISCAL NOTE	S 1301





	State of Idaho Budget Stabilization Fund
              Section 57-814, Idaho Code

Date         Action                                       Balance

Apr. 1984 Creation of Fund (H747)                         ----
Jun. 1984 Transfer from General Fund at year-end (H747) $ 4,267,200 $ 4,267,200 
Jun. 1985 Transfer from General Fund (H350)               1,490,300   5,757,500 
Jul. 1985 Transfer to General Fund (H350)                (5,757,500)  -
Apr. 1989 Transfer from General Fund (Sl332aaH)           7,500,000   7,500,000 
Jun. 1989 Transfer from General Fund (Sl332aaH)           4,500,000  12,000.000 
Mar. 1990 Transfer from General Fund (S1573)             38,000,000  50,000,000 
Apr. 1990 Interest earnings from Apr. 1989 to Mar. 1990  
          (See Note                                         684,432  50,684,432 
Apr. 1990 Appropriation for local highway projects (H905)(15,500,000)35,184,432 
Jun. 1992 Transfer to General Fund (S1464)               (5,406,100) 29,778,332 
Apr. 1993 Transfer to Parks & Recreation for Oregon  
          Trail Project (S1276)                            (100,000) 29,678,332 
Jul. 1993 Transfer to General Fund for public   
          schools (H463)                                 (3,000,000) 26,678,332 
Oct. 1993 Transfer from Liquor Fund (H464)                   748,800 27,427,132  
Jan 1994  Transfer from Liquor Fund (H464)                   748,800 28,175,932 
Mar. 1994 Partial return from Oregon Trail Project (H862)     27,000 28,202,932 
Apr 1994  Transfer from Liquor Fund (H464)                 3,000,000 31,202,932 
Apr 1994  Appropriation for juvenile justice study (H992)  (100,000) 31,102,932 
Apr. 1994 Transfer from Liquor Fund (H464)                   879,100 31,982,032 
Jun. 1994 Transfer from Liquor Fund (H464)                   879,100 32,861,132 
Jun  1995 Partial return from juvenile justice study          26,763 32,887,895 
Mar 1996  Transfer for North Idaho floods  
          (Exec. Order #96-04)                           (1,000,000) 31,887,895 
Jan 1997  Transfer for Floods (Exec. Order #97-01)       (1,000,000) 30,887,895 
Feb 1997  Transfer for Floods (Exec. Order #97-01)       (1.000,000) 29,887,895 
Jun 1997  Transfer for Floods (Exec. Order #97-01)       (1,000,000) 28,887,895 
Apr. 1997 Transfer for Floods (Exec. Order #97-01)       (1,000,000) 27,887,895 
Jul. 1997 State Controller - Y2K appropriation (S1285)     (357,700) 27,530,195  
Jun 1998  Transfers from General Fund (H572 and H443a)     8,500,000 36,030,195 
Dec. 1999 Deposits from tobacco settlement (S 1002)       16,781,559 52,811,754 
Feb. 2000 Transfer tobacco settlements to   
          Millennium Fund (S1296)                       (16.781,559) 36,030,195 
Jul 2000  Transfer to American Trucking Association  
          Settlement Fund (H819)                        (17,000,000) 19,030,195 
Jul 2000  Transfer from General Fund Surplus (H819)       17,000,000 36,030,195 
Sept 2000 Quarterly fiscal year 2001 transfer from  
          General Fund (H569)                              4,552,410 40,582,605 
Dec 2000  Quarterly fiscal year 2001 transfer from  
          General Fund (H569)                              4,552,410 45,135,016 
Dec 2000  Transfer to Disaster Emergency Fund  
          (Exec. Order #2000-17)                         (1,000,000) 44,135,016 
Mar 2001  Quarterly fiscal year 2001 transfer from  
          General Fund (H569)                              4,552,410 48,687,426 
Jun 2001  Quarterly fiscal year 2001 transfer from  
          General Fund (H569)                              4,552,410 53,239,836 
Aug 2001  Rainbow Gathering (Exec. Order 2001 -09)         (150,000) 53,089,836 
Sept 2001 Quarterly fiscal year 2002 transfer from  
          General Fund §57-814a                            4,961,599 58,051,435 
Dec 2001  Quarterly fiscal year 2002 transfer from  
          General Fund §57-814a                            4,961,599 63,013,034  
FY 2002   Remaining fiscal year 2002 transfers from  
          General Fund §57-814a                            9,923,198 72,936,232 
Note 1: 
Prior to April, 1989, interest accrued to the General Fund. 
Since March, 1990, interest has accrued to the Permanent Building Fund. 


Idaho Legislative Budget Book                                Statewide Report