HB 3418

Abstract

Amends the State Finance Act. Provides that the Governor may, through June 30, 2005 (now, June 30, 2007), direct the State Treasurer and Comptroller to transfer a specified sum from any fund held by the State Treasurer to the General Revenue Fund in order to help defray the State's operating costs for the fiscal year. Provides that no transfers may be made in this manner after June 30, 2005. On January 1, 2006, or as soon as may be practical after than date, the State Treasurer and the Comptroller shall reverse all transfers previously made under this authority unless the General Assembly has specifically authorized the transfers prior to that date. Places the same restrictions and requires the same reverse transfers with respect to the allocation and transfer of amounts generated by certain new and increased fees. Effective immediately.