Senate Bill sb0046C

    Florida Senate - 2001                                  SB 46-C

    By Senator Pruitt





    27-655B-02

  1                      A bill to be entitled

  2         An act relating to transfers to the General

  3         Revenue Fund from other funds; amending s.

  4         216.222, F.S.; authorizing the Comptroller to

  5         use funds of the Budget Stabilization Fund to

  6         offset a projected deficit in the General

  7         Revenue Fund; providing conditions and

  8         requirements for such transfer of funds;

  9         providing for repayment of the amount

10         transferred; authorizing use of the Budget

11         Stabilization Fund to provide temporary

12         transfers to the General Revenue Fund; amending

13         s. 215.18, F.S., to conform; providing an

14         effective date.

15

16  Be It Enacted by the Legislature of the State of Florida:

17

18         Section 1.  Section 216.222, Florida Statutes, is

19  amended to read:

20         216.222  Budget Stabilization Fund; criteria for

21  withdrawing moneys.--Moneys in the Budget Stabilization Fund

22  may be transferred to the General Revenue Fund for:

23         (1)(a)  Offsetting a deficit in the General Revenue

24  Fund. A deficit is deemed to occur when the official estimate

25  of funds available in the General Revenue Fund for a fiscal

26  year falls below the total amount appropriated from the

27  General Revenue Fund for that fiscal year. Such a transfer

28  must be made pursuant to s. 216.221, or pursuant to an

29  appropriation by law.

30         (b)  Notwithstanding the requirements of s. 216.221,

31  if, after consultation with the Revenue Estimating Conference,

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2001                                  SB 46-C
    27-655B-02




  1  the Comptroller believes that a deficit will occur in the

  2  General Revenue Fund and if:

  3         1.  Fewer than 30 but more than 4 days are left in the

  4  fiscal year, the Legislature is not in session, and neither

  5  the Legislature nor the Legislative Budget Commission is

  6  scheduled to meet before the end of the fiscal year, or

  7         2.  Fewer than 5 days are left in the fiscal year and

  8  the Governor and the Chief Justice, the Legislature, or the

  9  Legislative Budget Commission have not implemented measures to

10  resolve the deficit,

11

12  the Comptroller shall certify the deficit to the Governor, the

13  Chief Justice, the President of the Senate, and the Speaker of

14  the House of Representatives, and may thereafter withdraw

15  funds from the Budget Stabilization Fund to offset the

16  projected deficit in the General Revenue Fund.  The

17  Comptroller shall consult with the Governor and the chair and

18  vice chair of the Legislative Budget Commission before any

19  funds may be withdrawn from the Budget Stabilization Fund.  At

20  the beginning of the next fiscal year, the Comptroller shall

21  promptly determine the General Revenue Fund balance to be

22  carried forward. The Comptroller shall immediately repay the

23  Budget Stabilization Fund for the withdrawn amount, up to the

24  amount of the balance. If the General Revenue Fund balance

25  carried forward is not sufficient to fully repay the Budget

26  Stabilization Fund, the repayment of the remainder of the

27  withdrawn funds shall be as provided in s. 215.32(2)(c)3.

28         (2)  Providing funding for an emergency as defined in

29  s. 252.34. The emergency must have been declared by the

30  Governor pursuant to s. 252.36, or declared by law. Such a

31  transfer must be made pursuant to s. 252.37, subject to the

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    Florida Senate - 2001                                  SB 46-C
    27-655B-02




  1  conditions in that section, or pursuant to an appropriation by

  2  law.

  3         (3)  Providing temporary transfers to the General

  4  Revenue Fund pursuant to s. 215.18.

  5         Section 2.  Section 215.18, Florida Statutes, is

  6  amended to read:

  7         215.18  Transfers between funds; limitation.--Whenever

  8  there exists in any fund provided for by s. 215.32 a

  9  deficiency which would render such fund insufficient to meet

10  its just requirements, and there shall exist in the other

11  funds in the State Treasury moneys which are for the time

12  being or otherwise in excess of the amounts necessary to meet

13  the just requirements of such last-mentioned funds, the

14  Governor may order a temporary transfer of moneys from one

15  fund to another in order to meet temporary deficiencies in a

16  particular fund without resorting to the necessity of

17  borrowing money and paying interest thereon.  Except as

18  otherwise provided in s. 216.222(1)(b), the fund from which

19  any money is temporarily transferred shall be repaid the

20  amount transferred from it not later than the end of the

21  fiscal year in which such transfer is made, the date of

22  repayment to be specified in the order of the Governor.

23         Section 3.  This act shall take effect upon becoming a

24  law.

25

26            *****************************************

27                       LEGISLATIVE SUMMARY

28
      Authorizes the Comptroller to use funds of the Budget
29    Stabilization Fund to offset a projected deficit in the
      General Revenue Fund and provides conditions and
30    requirements for such transfer of funds and for repayment
      of the amount transferred.  Authorizes use of the Budget
31    Stabilization Fund as a source for temporary transfers to
      the General Revenue Fund.
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CODING: Words stricken are deletions; words underlined are additions.