Budget Deficit Savings Account: Safety Net Reserve Fund.
Existing provisions of the California Constitution, approved by the electors on November, 4, 2014, establish the Budget Stabilization Account in the General Fund and require the Controller, on or before October 1 of the 2015–16 fiscal year and each fiscal year thereafter, to transfer from the General Fund to the Budget Stabilization Account amounts that include a sum equal to 1.5% of the estimated amount of General Fund revenues for that fiscal year. These existing provisions prohibit for each fiscal year transfers to the account that would cause the balance in the account to exceed 10% of the amount of General Fund proceeds of taxes for the fiscal year, as estimated by the Department of Finance. These existing provisions authorize, for any fiscal year, General Fund proceeds of taxes that, but for the above prohibition, would have been transferred to the account, to be expended only for infrastructure, as prescribed.
us/states/ca
California Legislature
20172018
AB 1830
California AB 1830 (20172018)
bill
appropriation
Budget Deficit Savings Account: Safety Net Reserve Fund.
California AB 1830 (20172018) — Budget Deficit Savings Account: Safety Net Reserve Fund.
Existing provisions of the California Constitution, approved by the electors on November, 4, 2014, establish the Budget Stabilization Account in the General Fund and require the Controller, on or before October 1 of the 2015–16 fiscal year and each fiscal year thereafter, to transfer from the General Fund to the Budget Stabilization Account amounts that include a sum equal to 1.5% of the estimated amount of General Fund revenues for that fiscal year. These existing provisions prohibit for each fiscal year transfers to the account that would cause the balance in the account to exceed 10% of the amount of General Fund proceeds of taxes for the fiscal year, as estimated by the Department of Finance. These existing provisions authorize, for any fiscal year, General Fund proceeds of taxes that, but for the above prohibition, would have been transferred to the account, to be expended only for infrastructure, as prescribed.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
2018-05-08 Read second time. Ordered to third reading. reading-2, reading-1
2018-05-10 Read third time. Passed. Ordered to the Senate. (Ayes 50. Noes 22. Page 5109.) reading-3, passage, reading-1
2018-05-10 In Senate. Read first time. To Com. on RLS. for assignment. reading-1
2018-05-24 Referred to Com. on B. & F.R. referral-committee
2018-06-11 From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on B. & F.R. amendment-passage, referral-committee, reading-2, reading-1, amendment-introduction