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H. B. No. 638 As IntroducedAs Introduced
| 130th General Assembly | | Regular Session | | 2013-2014 |
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Representatives Beck, Adams, J.
Cosponsor:
Representative Brown
A BILL
To amend section 131.43 of the Revised Code to
require an annual deposit to the Budget
Stabilization Fund equal to 5% of General Revenue
Fund revenues for the preceding fiscal year.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 131.43 of the Revised Code be amended
to read as follows:
Sec. 131.43. There is hereby created in the state treasury
the budget stabilization fund. It is the intent of the general
assembly to maintain an amount of money in Each fiscal year
beginning with fiscal year 2016, the director of budget and
management shall deposit to the budget stabilization fund that
amounts to approximately an amount equal to five per cent of the
general revenue fund revenues for the preceding fiscal year. The
governor shall include in the state budget he the governor submits
to the general assembly under section 107.03 of the Revised Code
proposals for transfers between the general revenue fund and the
budget stabilization fund for the ensuing fiscal biennium. The
balance in the fund may be combined with the balance in the
general revenue fund for purposes of cash management.
Section 2. That existing section 131.43 of the Revised Code
is hereby repealed.
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