Text: HSB00500                          Text: HSB00502
Text: HSB00500 - HSB00599               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

House Study Bill 501

Bill Text

PAG LIN
  1  1    Section 1.  Section 8.54, subsections 2 and 3, Code 2003,
  1  2 are amended to read as follows:
  1  3    2.  There is created a state general fund expenditure
  1  4 limitation for each fiscal year beginning on or after July 1,
  1  5 1993, calculated as provided in this section.
  1  6    3.  Except as otherwise provided in this section, the state
  1  7 general fund expenditure limitation for a fiscal year shall be
  1  8 ninety-nine ninety-eight percent of the adjusted revenue
  1  9 estimate.
  1 10    Sec. 2.  EFFECTIVE DATE – APPLICABILITY.  Section 1 of
  1 11 this Act, amending section 8.54, takes effect December 15,
  1 12 2004, or the date the revenue estimating conference agrees to
  1 13 the revenue estimate for the fiscal year beginning July 1,
  1 14 2005, and ending June 30, 2006, that is required to be used by
  1 15 the governor and the general assembly for preparation and
  1 16 passage of the state budget for that fiscal year pursuant to
  1 17 section 8.22A, subsections 3 and 4, whichever date is earlier.
  1 18 Section 1 of this Act is first applicable to the expenditure
  1 19 limitation calculated in accordance with section 8.54 for the
  1 20 fiscal year beginning July 1, 2005, and ending June 30, 2006.  
  1 21                           EXPLANATION
  1 22    This bill relates to the state general fund expenditure
  1 23 limitation by revising the percentage amount used for the
  1 24 limitation.
  1 25    Current law provides that the expenditure limitation
  1 26 calculated for a fiscal year is 99 percent of the adjusted
  1 27 revenue estimate agreed to by the revenue estimating
  1 28 conference for that fiscal year at the meeting held by
  1 29 December 15 prior to the commencement of the fiscal year.  The
  1 30 bill changes the percentage amount to 98 percent of the
  1 31 adjusted revenue estimate.
  1 32    The bill takes effect December 15, 2004, or the date the
  1 33 revenue estimating conference agrees to a revenue estimate for
  1 34 the fiscal year beginning July 1, 2005, that shall be used by
  1 35 the governor and the general assembly for preparation and
  2  1 passage of the state budget for that fiscal year pursuant to
  2  2 Code section 8.22A, subsections 3 and 4, whichever date is
  2  3 earlier.  The bill is first applicable to the budget
  2  4 activities of the governor and general assembly for fiscal
  2  5 year 2005-2006.  
  2  6 LSB 5441YC 80
  2  7 jp/cf/24
     

Text: HSB00500                          Text: HSB00502
Text: HSB00500 - HSB00599               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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