Senate Amendment 5003


PAG LIN




     1  1    Amend House File 2039, as amended, passed, and
     1  2 reprinted by the House, as follows:
     1  3 #1.  Page 1, by inserting after line 7, the
     1  4 following:
     1  5    <Sec. ___.  Section 8.54, subsection 1, Code 2003,
     1  6 is amended by adding the following new paragraph
     1  7 before paragraph a and relettering the succeeding
     1  8 paragraphs:
     1  9    NEW PARAGRAPH.  1a.  "Actual revenue" is the amount
     1 10 of revenue credited to the general fund of the state
     1 11 during a designated period.>
     1 12 #2.  Page 1, by striking lines 13 through 16, and
     1 13 inserting the following:
     1 14    <3.  Except as otherwise provided in this section,
     1 15 the state general fund expenditure limitation for a
     1 16 fiscal year shall be ninety=nine percent of the
     1 17 adjusted revenue estimate.  However, the general
     1 18 assembly may utilize a state general fund expenditure
     1 19 limitation for a fiscal year of ninety=eight percent
     1 20 of the adjusted revenue estimate provided all of the
     1 21 following conditions are met:
     1 22    a.  At the time the revenue estimating conference
     1 23 agrees to a revenue estimate used to establish the
     1 24 appropriate adjusted revenue estimate for a fiscal
     1 25 year, the conference agrees to an estimate for the
     1 26 amount of revenue to be credited to the general fund
     1 27 of the state during the fiscal year in progress that
     1 28 is more than one hundred two percent of the actual
     1 29 revenue credited to the general fund of the state at
     1 30 the close of the most recently completed fiscal year.
     1 31    b.  The general assembly determines that an
     1 32 expenditure limitation based upon ninety=eight percent
     1 33 of the adjusted revenue estimate will provide
     1 34 sufficient general fund revenue to continue the
     1 35 enacted appropriation amounts for the fiscal year in
     1 36 progress plus the additional amount needed to provide
     1 37 for full funding of the increase in state payments
     1 38 under the state school foundation program resulting
     1 39 from the increase in allowable growth, standing
     1 40 appropriations, and contractual obligations.
     1 41    c.  Prior to passage of bills making appropriations
     1 42 for that fiscal year, the general assembly approves a
     1 43 bill formally confirming and stating the determination
     1 44 required by paragraph "b".>
     1 45 #3.  By renumbering as necessary.
     1 46
     1 47
     1 48                               
     1 49 KEITH A. KREIMAN
     1 50
     2  1
     2  2                               
     2  3 HERMAN C. QUIRMBACH
     2  4 HF 2039.704 80
     2  5 jp/gg

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