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House Journal: Page 924: Wednesday, March 22, 1995

30     b.  In addition to the requirements of paragraph
31   "a", an appropriation shall not be made from the cash
32   reserve fund which would cause the fund's balance to
33   be less than three percent of the adjusted revenue
34   estimate for the year for which the appropriation is
35   made unless the bill or joint resolution making the
36   appropriation is approved by vote of at least three-
37   fifths of the members of both chambers of the general
38   assembly and is signed by the governor.
39     Sec. ___.  Section 8.57, subsection 1, paragraph a,
40   Code 1995, is amended by striking the paragraph and
41   inserting in lieu thereof the following:
42     a.  The cash reserve goal percentage for fiscal
43   years beginning on or after July 1, 1995, is five
44   percent of the adjusted revenue estimate.  For each
45   fiscal year beginning on or after July 1, 1995, in
46   which the appropriation of the surplus existing in the
47   general fund of the state at the conclusion of the
48   prior fiscal year pursuant to paragraph "b" was not
49   sufficient for the cash reserve fund to reach the cash
50   reserve goal percentage for the current fiscal year,

Page  13

 1   there is appropriated from the general fund of the
 2   state an amount to be determined as follows:
 3     (1)  If the balance of the cash reserve fund in the
 4   current fiscal year is not more than four percent of
 5   the adjusted revenue estimate for the current fiscal
 6   year, the amount of the appropriation under this
 7   lettered paragraph is one percent of the adjusted
 8   revenue estimate for the current fiscal year.
 9     (2)  If the balance of the cash reserve fund in the
10   current fiscal year is more than four percent but less
11   than five percent of the adjusted revenue estimate for
12   that fiscal year, the amount of the appropriation
13   under this lettered paragraph is the amount necessary
14   for the cash reserve fund to reach five percent of the
15   adjusted revenue estimate for the current fiscal year.
16     (3)  The moneys appropriated under this lettered
17   paragraph shall be credited in equal and proportionate
18   amounts in each quarter of the current fiscal year.
19     Sec. ___.  Section 8.57, subsection 1, paragraph b,
20   Code 1995, is amended to read as follows:
21     b.  Commencing June 30, 1993, the The surplus
22   existing in the general fund of the state at the
23   conclusion of the fiscal year is appropriated for
24   distribution in the succeeding fiscal year as provided
25   in this section subsections 2 and 3.  Moneys
credited
26   to the cash reserve fund from the appropriation made
27   in this paragraph shall not exceed the amount
28   necessary for the cash reserve fund to reach the cash
29   reserve goal percentage for the succeeding fiscal
30   year.  As used in this paragraph, "surplus" means the

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 1)

© 1995 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Sun Jan 14 21:05:02 CST 1996
URL: /DOCS/GA/76GA/Session.1/HJournal/00900/00924.html
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