House Amendment 8004


PAG LIN




     1  1    Amend House File 2039 as follows:
     1  2 #1.  Page 1, by inserting before line 1, the
     1  3 following:
     1  4    <Sec. ___.  Section 8.54, subsection 1, Code 2003,
     1  5 is amended by adding the following new paragraph
     1  6 before paragraph a and relettering the succeeding
     1  7 paragraphs:
     1  8    NEW PARAGRAPH.  1a.  "Actual revenue" is the amount
     1  9 of revenue credited to the general fund of the state
     1 10 during a designated period.>
     1 11 #2.  Page 1, by striking lines 6 through 9, and
     1 12 inserting the following:
     1 13    <3.  Except as otherwise provided in this section,
     1 14 the state general fund expenditure limitation for a
     1 15 fiscal year shall be one of the following:
     1 16    a.  If, at the time the revenue estimating
     1 17 conference agrees to a revenue estimate used to
     1 18 establish the appropriate adjusted revenue estimate
     1 19 for a fiscal year, the conference agrees to an
     1 20 estimate for the amount of revenue to be credited to
     1 21 the general fund of the state during the fiscal year
     1 22 in progress that is more than one hundred two percent
     1 23 of the actual revenue credited to the general fund of
     1 24 the state at the close of the most recently completed
     1 25 fiscal year, the state general fund expenditure
     1 26 limitation shall be ninety=eight percent of the
     1 27 adjusted revenue estimate.
     1 28    b.  If, at the time the revenue estimating
     1 29 conference agrees to a revenue estimate used to
     1 30 establish the appropriate adjusted revenue estimate
     1 31 for a fiscal year, the conference agrees to an
     1 32 estimate for the amount of revenue to be credited to
     1 33 the general fund of the state during the fiscal year
     1 34 in progress that is one hundred two percent or less of
     1 35 the actual revenue credited to the general fund of the
     1 36 state at the close of the most recently completed
     1 37 fiscal year, the state general fund expenditure
     1 38 limitation shall be ninety=nine percent of the
     1 39 adjusted revenue estimate.>
     1 40
     1 41
     1 42                               
     1 43 KUHN of Floyd
     1 44 HF 2039.502 80
     1 45 jp/pj
   1 46
   1 47
   1 48
   1 49
   1 50

                              -1-