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Legislative Year: 2022 Change
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Bill Detail: HB22-1343

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Title General Fund Exempt Account And Excess State Revenues
Status Sent to the Governor (04/20/2022)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors K. Ransom (R)
J. McCluskie (D)
Senate Sponsors B. Rankin (R)
C. Hansen (D)
House Committee Appropriations
Senate Committee Appropriations
Date Introduced 03/28/2022
Summary

Joint Budget Committee. In 2005, the voters approved
referendum C, which authorized the state to retain state revenues up to the
excess state revenues cap to be spent on specified uses (excess state
revenues). The general fund exempt account (account) was created within
the general fund and it includes an amount equal to the excess state

revenues. There is a statutorily required allocation of the money in the
account for uses that are consistent with the uses approved by the voters
in referendum C. The actual amount of the excess state revenues is not
known until after the last day of the fiscal year.
The bill addresses the discrepancy between the amounts
appropriated or transferred from the account and the actual amount of the
excess state revenues. If the appropriations and transfers from the account
are less than the actual excess state revenues, then some of the revenue in
the general fund is also designated as excess state revenues.
Appropriations from the general fund for medical and long-term care
services for medicaid eligible individuals and the state share of districts'
total program funding, or their successor line items, are designated as
how the state uses this revenue.
If the appropriations and transfers from the account are more than
the actual excess state revenues, then a portion of the account, and a
corresponding percentage of all appropriations and transfers from it, are
designated as not being excess state revenues.

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with Amendments
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Fiscal Notes Fiscal Notes (03/28/2022) (most recent)  
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