SB 7056 — Trust Funds
by Appropriations Committee
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Appropriations Committee (AP)
SB 7056 terminates the following trust funds:
Public Defenders Revenue Trust Fund within the Justice Administrative Commission.
Revolving Trust Fund within the Department of Law Enforcement.
Welfare Transition Trust Fund within the Department of Military Affairs.
Welfare Transition Trust Fund within the Department of Health.
The bill provides for all current balances remaining in, and all revenues of, such trust funds to be transferred to other trust funds. It requires any outstanding debts and obligations of the terminated trust fund to be paid as soon as practicable. Further, the bill requires the Chief Financial Officer to close out and remove the terminated fund from the various state accounting systems using generally accepted accounting principles concerning warrants outstanding, assets, and liabilities.
These provisions were approved by the Governor and take effect July 1, 2021.
Vote: Senate 40-0; House 117-0