AB 2888

Bill Subjects

Abstract

Existing law requires the Legislature to pass a budget bill each year prescribing appropriations and expenditures for the ensuing fiscal year. Existing law specifies that General Fund money consists of money received into the state treasury and not required by law to be credited to any other fund. Existing law requires a minimum level of funding to be allocated from the General Fund each year for school districts and community colleges. Existing law also provides for state budget reserves, including the Budget Stabilization Account, the Special Fund for Economic Uncertainties, and the Safety Net Reserve. This bill would state the intent of the Legislature to enact legislation providing for budget reserves equal to or greater than 20% of the General Fund budget, excluding funds for the minimum level of school funding allocated pursuant to Proposition 98 of 1988.