Text: H09061 Text: H09063 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate Joint Resolution 2004, as passed by 1 2 the Senate, as follows: 1 3 #1. Page 2, by striking lines 20 through 32 and 1 4 inserting the following: 1 5 "5. a. The surplus existing in the general fund 1 6 of the state at the conclusion of the fiscal year is 1 7 appropriated for distribution in the succeeding fiscal 1 8 year as provided in paragraph "c". As used in this 1 9 subsection, "surplus" means the excess of revenues and 1 10 other financing sources over expenditures and other 1 11 financing uses for the general fund of the state in a 1 12 fiscal year. 1 13 b. The amount appropriated in this subsection is 1 14 not subject to quarterly requisitions and allotment, 1 15 or to conditional availability of appropriations. 1 16 c. Moneys appropriated under paragraph "a" shall 1 17 be first credited to the cash reserve fund. To the 1 18 extent that moneys appropriated under paragraph "a" 1 19 would make the moneys in the cash reserve fund exceed 1 20 five percent of the adjusted revenue estimate for the 1 21 next fiscal year, the moneys are appropriated to the 1 22 Iowa economic emergency fund. 1 23 d. If the moneys appropriated to the cash reserve 1 24 fund from the surplus do not make the moneys in the 1 25 cash reserve fund equal to five percent of the 1 26 adjusted revenue estimate for the following fiscal 1 27 year, there is appropriated from the general fund of 1 28 the state at the beginning of the next fiscal year an 1 29 amount sufficient for the cash reserve fund to reach 1 30 the five percent maximum balance for that fiscal 1 31 year." 1 32 #2. Page 3, line 13, by inserting after the word 1 33 "section" the following: "and sections 2, 3, and 4". 1 34 #3. Page 3, by inserting after line 13 the 1 35 following: 1 36 "GAAP FUND. Sec. 2. 1 37 1. The generally accepted accounting principles 1 38 fund is created. The fund shall be separate from the 1 39 general fund of the state and the balance in the fund 1 40 shall not be considered part of the balance of the 1 41 general fund of the state. The moneys in the fund 1 42 shall not revert to the general fund of the state or 1 43 any other fund. 1 44 2. There is no maximum balance for the generally 1 45 accepted accounting principles fund. 1 46 3. The moneys in the generally accepted accounting 1 47 principles fund shall only be appropriated by the 1 48 general assembly for reducing any deficit of the 1 49 state. 1 50 4. Interest or earnings on moneys deposited in the 2 1 generally accepted accounting principles fund shall be 2 2 credited to the generally accepted accounting 2 3 principles fund. 2 4 IOWA ECONOMIC EMERGENCY FUND. Sec. 3. 2 5 1. The Iowa economic emergency fund is created. 2 6 The fund shall be separate from the general fund of 2 7 the state and the balance in the fund shall not be 2 8 considered part of the balance of the general fund of 2 9 the state. The moneys in the fund shall not revert to 2 10 the general fund unless and to the extent the fund 2 11 exceeds the maximum balance. 2 12 2. The maximum balance of the fund is the amount 2 13 equal to five percent of the adjusted revenue estimate 2 14 for the fiscal year. If the amount of moneys in the 2 15 Iowa economic emergency fund is equal to the maximum 2 16 balance, moneys in excess of this amount shall be 2 17 transferred to the general fund of the state and the 2 18 original state general fund expenditure limitation 2 19 provided in section 1, subsection 3, shall be 2 20 readjusted to include the moneys transferred. 2 21 3. The moneys in the Iowa economic emergency fund 2 22 may be appropriated by the general assembly only in 2 23 the fiscal year for which the appropriation is made. 2 24 The moneys shall only be appropriated by the general 2 25 assembly for emergency expenditures. However, except 2 26 as provided in subsection 6, the balance in the Iowa 2 27 economic emergency fund may be used in determining the 2 28 cash position of the general fund of the state for the 2 29 payment of state obligations. 2 30 4. Interest or earnings on moneys deposited in the 2 31 Iowa economic emergency fund shall be credited to the 2 32 Iowa economic emergency fund. 2 33 CASH RESERVE FUND. Sec. 4. 2 34 1. A cash reserve fund is created. The cash 2 35 reserve fund shall be separate from the general fund 2 36 of the state and shall not be considered part of the 2 37 general fund of the state except in determining the 2 38 cash position of the state as provided in subsection 2 39 3. The moneys in the cash reserve fund shall not 2 40 revert to the general fund of the state and shall not 2 41 be transferred, used, obligated, appropriated, or 2 42 otherwise encumbered except as provided in this 2 43 section. Interest or earnings on moneys deposited in 2 44 the cash reserve fund shall be credited to the cash 2 45 reserve fund. Moneys in the cash reserve fund may be 2 46 used for cash flow purposes provided that any moneys 2 47 so allocated are returned to the cash reserve fund by 2 48 the end of each fiscal year. 2 49 2. The maximum balance of the cash reserve fund is 2 50 equal to five percent of the adjusted revenue estimate 3 1 for the general fund of the state for the fiscal year. 3 2 3. The moneys in the cash reserve fund may be 3 3 appropriated by the general assembly in accordance 3 4 with subsection 4 only in the fiscal year for which 3 5 the appropriation is made. The moneys shall only be 3 6 appropriated by the general assembly for nonrecurring 3 7 emergency expenditures and shall not be appropriated 3 8 for payment of any collective bargaining agreement or 3 9 arbitrator's decision negotiated or awarded under 3 10 state law. However, except as provided in subsection 3 11 6, the balance in the cash reserve fund may be used in 3 12 determining the cash position of the general fund of 3 13 the state for payment of state obligations. 3 14 4. a. Except as provided in subsection 1, an 3 15 appropriation shall not be made from the cash reserve 3 16 fund unless the appropriation is in accordance with 3 17 all of the following: 3 18 (1) The appropriation is contained in a bill or 3 19 joint resolution in which the appropriation is the 3 20 only subject matter of the bill or joint resolution. 3 21 (2) The bill or joint resolution states the 3 22 reasons the appropriation is necessary. 3 23 b. In addition to the requirements of paragraph 3 24 "a", an appropriation shall not be made from the cash 3 25 reserve fund which would cause the fund's balance to 3 26 be less than three percent of the adjusted revenue 3 27 estimate for the fiscal year for which the 3 28 appropriation is made unless the bill or joint 3 29 resolution is approved by vote of at least three- 3 30 fifths of the members of both chambers of the general 3 31 assembly and is signed by the governor." 3 32 #4. By renumbering as necessary. 3 33 3 34 3 35 3 36 WEIGEL of Chickasaw 3 37 SJR 2004.720 77 3 38 sc/sc/28
Text: H09061 Text: H09063 Text: H09000 - H09099 Text: H Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Fri Apr 10 03:46:22 CDT 1998
URL: /DOCS/GA/77GA/Legislation/H/09000/H09062/980409.html
jhf