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S1195............................................................by FINANCE
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 and Retained Risk 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.
04/29 Senate intro - 1st rdg - to printing
04/30 Rpt prt - to Fin
Rpt out - rec d/p - to 2nd rdg
Rls susp - PASSED - 33-1-1
AYES -- Andreason, Bailey, Brandt, Bunderson, Burtenshaw, Calabretta,
Cameron, Compton, Darrington, Davis, Gannon, Geddes, Goedde, Hill
(Hill), Ingram, Kennedy, Keough, Little, Lodge, Malepeai, Marley,
McKenzie, McWilliams, Noble, Noh, Pearce, Richardson, Sorensen,
Stegner, Stennett, Sweet, Werk, Williams
NAYS -- Schroeder
Absent and excused -- Burkett
Floor Sponsor - Cameron
Title apvd - to House
05/01 House intro - 1st rdg - to 2nd rdg
Rls susp - PASSED - 64-2-4
AYES -- Andersen(Guyon), Barraclough(Schanz), Barrett, Bauer, Bedke,
Bell, Bieter, Black, Block, Bolz, Bradford, Campbell, Cannon, Clark,
Collins, Cuddy, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth,
Eskridge, Field(18), Field(23), Gagner, Garrett, Harwood, Jaquet,
Kellogg, Lake, Langford, Langhorst, Martinez(Echohawk), McGeachin,
McKague, Meyer, Miller, Mitchell, Moyle, Naccarato, Nielsen,
Ridinger, Ring, Ringo, Roberts, Robison, Rydalch, Sali, Sayler,
Schaefer, Shepherd(Buell), Shirley, Skippen, Smith(30), Smith(24),
Smylie, Snodgrass, Stevenson, Tilman, Trail, Wills, Wood, Mr. Speaker
NAYS -- Boe, Henbest
Absent and excused -- Crow, Jones, Kulczyk, Raybould
Floor Sponsor - Bell
Title apvd - to Senate
05/02 To enrol - Rpt enrol - Pres signed - Sp signed
05/03 To Governor
05/05 Governor signed
Session Law Chapter 341
Effective: 05/05/03
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-seventh Legislature First Regular Session - 2003
IN THE SENATE
SENATE BILL NO. 1195
BY FINANCE 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; AND DECLARING AN EMERGENCY.
14 Be It Enacted by the Legislature of the State of Idaho:
15 SECTION 1. The Legislature finds that the current economic situation fac-
16 ing the state of Idaho, and underscored by revenue collections thus far in the
17 fiscal year, warrants certain prudent and necessary steps to ensure a balanced
18 budget for fiscal year 2003.
19 SECTION 2. Notwithstanding the provisions of Section 57-1108, Idaho Code,
20 there is hereby appropriated, and the State Controller is directed to trans-
21 fer, the sum of forty-eight million dollars ($48,000,000) from the Permanent
22 Building Fund to the General Fund.
23 SECTION 3. Notwithstanding the provisions of Section 67-1801, Idaho Code,
24 there is hereby appropriated, and the State Controller is directed to trans-
25 fer, the sum of seven hundred ninety-eight thousand two hundred dollars
26 ($798,200) from the Idaho Millennium Fund to the Idaho Millennium Income Fund
27 for the purpose of covering program expenditures for fiscal year 2003 as
28 approved by the Legislature.
29 SECTION 4. Notwithstanding the provisions of Section 67-1801, Idaho Code,
30 there is hereby appropriated, and the State Controller is directed to trans-
31 fer, the sum of two million four hundred thirty-eight thousand seven hundred
32 dollars ($2,438,700) from the Idaho Millennium Fund to the Idaho Millennium
33 Income Fund for the purpose of covering program expenditures for fiscal year
34 2004 as approved by the Legislature.
35 SECTION 5. After the moneys appropriated in Sections 3 and 4 of this act
36 have been transferred out of the Idaho Millennium Fund, notwithstanding the
37 provisions of Section 67-1801, Idaho Code, there is hereby appropriated, and
38 the State Controller is directed to transfer, the balance of the Idaho
39 Millennium Fund to the General Fund. Such balance is estimated to be forty
40 million two hundred thousand dollars ($40,200,000).
2
1 SECTION 6. Notwithstanding the provisions of Section 57-814, Idaho Code,
2 there is hereby appropriated, and the State Controller is directed to trans-
3 fer, the sum of twenty-six million three hundred ninety thousand dollars
4 ($26,390,000) from the Budget Stabilization Fund to the General Fund.
5 SECTION 7. Notwithstanding the provisions of Section 67-1801, Idaho Code,
6 the State Treasurer is hereby directed to deposit into the General Fund the
7 next scheduled payment distributed to the state of Idaho pursuant to the Mas-
8 ter Settlement Agreement. Such payment is estimated to be sixteen million
9 three hundred fifty thousand dollars ($16,350,000).
10 SECTION 8. Notwithstanding the provisions of Section 67-5776, Idaho Code,
11 there is hereby appropriated, and the State Controller is directed to trans-
12 fer, the sum of five million dollars ($5,000,000) from the Retained Risk Fund
13 to the General Fund.
14 SECTION 9. An emergency existing therefor, which emergency is hereby
15 declared to exist, this act shall be in full force and effect on and after its
16 passage and approval.
| Statement of Purpose |
| RS13325C1 |
This bill would transfer an estimated $135,940,000 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, and 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 declares an emergency to make this legislation effective on and after its passage and approval.
.
 
| Fiscal Note |
This bill would transfer an estimated $135,940,000 to the General Fund and also transfers $3,236,900 from the Permanent Millennium Fund to the Millennium Income Fund to provide the cash necessary for those programs.
Contact: Jeff Youtz 334-4743
Legislative Services Office, Budget & Policy Analysis
| Statement of Purpose/Fiscal Note | Bill No. S1195 |