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House Journal: Page 1669: Wednesday, April 15, 1998

30     4.  Interest or earnings on moneys deposited in the
31   Iowa economic emergency fund shall be credited to the
32   Iowa economic emergency fund.
33     CASH RESERVE FUND.  Sec. 4.
34     1.  A cash reserve fund is created.  The cash
35   reserve fund shall be separate from the general fund
36   of the state and shall not be considered part of the
37   general fund of the state except in determining the
38   cash position of the state as provided in subsection
39   3.  The moneys in the cash reserve fund shall not
40   revert to the general fund of the state and shall not
41   be transferred, used, obligated, appropriated, or
42   otherwise encumbered except as provided in this
43   section.  Interest or earnings on moneys deposited in
44   the cash reserve fund shall be credited to the cash
45   reserve fund.  Moneys in the cash reserve fund may be
46   used for cash flow purposes provided that any moneys
47   so allocated are returned to the cash reserve fund by
48   the end of each fiscal year.
49     2.  The maximum balance of the cash reserve fund is
50   equal to five percent of the adjusted revenue estimate

Page 3

 1   for the general fund of the state for the fiscal year.
 2     3.  The moneys in the cash reserve fund may be
 3   appropriated by the general assembly in accordance
 4   with subsection 4 only in the fiscal year for which
 5   the appropriation is made.  The moneys shall only be
 6   appropriated by the general assembly for nonrecurring
 7   emergency expenditures and shall not be appropriated
 8   for payment of any collective bargaining agreement or
 9   arbitrator's decision negotiated or awarded under
10   state law.  However, except as provided in subsection
11   6, the balance in the cash reserve fund may be used in
12   determining the cash position of the general fund of
13   the state for payment of state obligations.
14     4.  a.  Except as provided in subsection 1, an
15   appropriation shall not be made from the cash reserve
16   fund unless the appropriation is in accordance with
17   all of the following:
18     (1)  The appropriation is contained in a bill or
19   joint resolution in which the appropriation is the
20   only subject matter of the bill or joint resolution.
21     (2)  The bill or joint resolution states the
22   reasons the appropriation is necessary.
23     b.  In addition to the requirements of paragraph
24   "a", an appropriation shall not be made from the cash
25   reserve fund which would cause the fund's balance to
26   be less than three percent of the adjusted revenue
27   estimate for the fiscal year for which the
28   appropriation is made unless the bill or joint
29   resolution is approved by vote of at least three-

© 1998 Cornell College and League of Women Voters of Iowa

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Last update: Thu Apr 16 13:40:03 CDT 1998
URL: /DOCS/GA/77GA/Session.2/HJournal/01600/01669.html
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