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H0424.....................................................by APPROPRIATIONS
GENERAL FUND - TRANSFERS - Stating legislative findings regarding the
financial situation for fiscal year 2003; transferring funds to the General
Fund from the Permanent Building Fund, Idaho Millennium Fund, Budget
Stabilization Fund, Retained Risk Fund and the Fish and Game Big Game
Secondary Depredation Fund; transferring funds from the Idaho Millennium
Fund to the Idaho Millennium Income Fund; and providing for the deposit of
moneys from the next Master Settlement Agreement payment into the General
Fund.
04/24 House intro - 1st rdg - to printing
04/25 Rpt prt - to 2nd rdg
04/28 2nd rdg - to 3rd rdg
05/01 Ret'd to Approp
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-seventh Legislature First Regular Session - 2003
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 424
BY APPROPRIATIONS COMMITTEE
1 AN ACT
2 RELATING TO A BALANCED STATE BUDGET FOR FISCAL YEAR 2003; STATING FINDINGS OF
3 THE LEGISLATURE REGARDING THE FINANCIAL SITUATION FOR FISCAL YEAR 2003;
4 TRANSFERRING MONEYS FROM THE PERMANENT BUILDING FUND TO THE GENERAL FUND;
5 TRANSFERRING MONEYS FROM THE IDAHO MILLENNIUM FUND TO THE IDAHO MILLENNIUM
6 INCOME FUND FOR CERTAIN EXPENDITURES IN FISCAL YEAR 2003; TRANSFERRING
7 MONEYS FROM THE IDAHO MILLENNIUM FUND TO THE IDAHO MILLENNIUM INCOME FUND
8 FOR CERTAIN EXPENDITURES IN FISCAL YEAR 2004; TRANSFERRING MONEYS FROM THE
9 IDAHO MILLENNIUM FUND TO THE GENERAL FUND; TRANSFERRING MONEYS FROM THE
10 BUDGET STABILIZATION FUND TO THE GENERAL FUND; DIRECTING THE STATE TREA-
11 SURER TO DEPOSIT THE NEXT TOBACCO SETTLEMENT PAYMENT INTO THE GENERAL
12 FUND; TRANSFERRING MONEYS FROM THE RETAINED RISK MANAGEMENT FUND TO THE
13 GENERAL FUND; TRANSFERRING CERTAIN MONEYS FROM THE FISH AND GAME BIG GAME
14 SECONDARY DEPREDATION FUND TO THE GENERAL FUND; AND DECLARING AN EMER-
15 GENCY.
16 Be It Enacted by the Legislature of the State of Idaho:
17 SECTION 1. The Legislature finds that the current economic situation fac-
18 ing the state of Idaho, and underscored by revenue collections thus far in the
19 fiscal year, warrants certain prudent and necessary steps to ensure a balanced
20 budget for fiscal year 2003.
21 SECTION 2. Notwithstanding the provisions of Section 57-1108, Idaho Code,
22 there is hereby appropriated, and the State Controller is directed to trans-
23 fer, the sum of forty-eight million dollars ($48,000,000) from the Permanent
24 Building Fund to the General Fund.
25 SECTION 3. Notwithstanding the provisions of Section 67-1801, Idaho Code,
26 there is hereby appropriated, and the State Controller is directed to trans-
27 fer, the sum of seven hundred ninety-eight thousand two hundred dollars
28 ($798,200) from the Idaho Millennium Fund to the Idaho Millennium Income Fund
29 for the purpose of covering program expenditures for fiscal year 2003 as
30 approved by the Legislature.
31 SECTION 4. Notwithstanding the provisions of Section 67-1801, Idaho Code,
32 there is hereby appropriated, and the State Controller is directed to trans-
33 fer, the sum of two million four hundred thirty-eight thousand seven hundred
34 dollars ($2,438,700) from the Idaho Millennium Fund to the Idaho Millennium
35 Income Fund for the purpose of covering program expenditures for fiscal year
36 2004 as approved by the Legislature.
37 SECTION 5. After the moneys appropriated in Sections 3 and 4 of this act
38 have been transferred out of the Idaho Millennium Fund, notwithstanding the
39 provisions of Section 67-1801, Idaho Code, there is hereby appropriated, and
40 the State Controller is directed to transfer, the balance of the Idaho
2
1 Millennium Fund to the General Fund. Such balance is estimated to be forty
2 million two hundred thousand dollars ($40,200,000).
3 SECTION 6. Notwithstanding the provisions of Section 57-814, Idaho Code,
4 there is hereby appropriated, and the State Controller is directed to trans-
5 fer, the sum of twenty-six million three hundred ninety thousand dollars
6 ($26,390,000) from the Budget Stabilization Fund to the General Fund.
7 SECTION 7. Notwithstanding the provisions of Section 67-1801, Idaho Code,
8 the State Treasurer is hereby directed to deposit into the General Fund the
9 next scheduled payment distributed to the state of Idaho pursuant to the Mas-
10 ter Settlement Agreement. Such payment is estimated to be sixteen million
11 three hundred fifty thousand dollars ($16,350,000).
12 SECTION 8. Notwithstanding the provisions of Section 67-5776, Idaho Code,
13 there is hereby appropriated, and the State Controller is directed to trans-
14 fer, the sum of five million dollars ($5,000,000) from the Retained Risk Fund
15 to the General Fund.
16 SECTION 9. Notwithstanding the provisions of Section 36-115, Idaho Code,
17 there is hereby appropriated, and the State Controller is directed to trans-
18 fer, the sum of one million dollars ($1,000,000) from the nonexpendable por-
19 tion of the Fish and Game Big Game Secondary Depredation Fund to the General
20 Fund.
21 SECTION 10. An emergency existing therefor, which emergency is hereby
22 declared to exist, this act shall be in full force and effect on and after its
23 passage and approval.
| Statement of Purpose |
| RS13075C4 |
This bill would transfer an estimated $136,940,000 to the General Fund from various cash reserves to cover a shortfall in revenue for fiscal year 2003. These transfers, in combination with current year budget reductions, are necessary to balance the budget for FY 2003. This bill also transfers moneys from the Permanent Millennium Fund to the Millennium Income Fund to provide the cash necessary for those programs.
Section 2 transfers $48,000,000 from the Permanent Building Fund. These monies were originally earmarked for repair and maintenance projects.
Section 3 transfers $798,200 from the Millennium Fund to the Millennium Income Fund to cover the remaining program obligations for FY 2003. Section 4 transfers $2,438,700 from the Millennium Fund to the Millennium Income Fund for projects in FY 2004. Section 5 transfers the remaining balance of the Millennium Fund, estimated at $40,200,000, to the General Fund.
Section 6 transfers $26,390,000 from the Budget Stabilization Fund which would completely deplete that fund.
Section 7 transfers the April tobacco settlement payment to the General Fund, which is $16,350,000. Idaho receives approximately $25.0 million a year as a result of the Master Settlement Agreement.
Section 8 transfers $5.0 million from the Retained Risk Fund, which is the state’s self- insured liability fund, which will have a one-time surplus this year according to the Department of Administration and the Division of Financial Management.
Section 9 transfers $1.0 million from the Fish and Game Secondary Depredation Fund. This depredation claim fund was originally set up with a $1.0 million appropriation from the General Fund in 1991. The current balance is $3.1 million which was built up with interest earnings and controlled hunt application fees. Depredation claims have averaged $42,100 per year over the last ten years which could be easily supported by the remaining $2.1 million in the fund.
Section 10 declares an emergency to make this legislation effective on and after its passage and approval.
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| Fiscal Note |
The General Fund would be increased by $136,940,000 for fiscal year 2003 and there would be a corresponding decrease in the various dedicated fund cash reserves as outlined in each section. There would also be transfers totaling $3,236,900 from the Permanent Millennium Fund to the Millennium Income Fund. Total transfers amount to an estimated $140,176,900.
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Contact: Representative Maxine Bell
Legislative Information Center 332-1000
| Statement of Purpose/Fiscal Note | Bill No. H424 |