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
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