The bill focuses on the management and allocation of funds within the Restricted Reserve Fund, granting the General Assembly the authority to determine appropriations for state agencies. It requires prior approval from the Legislative Council or the Joint Budget Committee for any fund transfers, and includes a non-severability clause that voids certain sections if the approval requirement is found unconstitutional. The bill also specifies the transfer of unobligated funds from various accounts into the Restricted Reserve Fund, designating these funds for specific purposes such as Medicaid, educational facilities, and economic development.

Furthermore, the bill introduces new provisions that require appropriations authorized by the General Assembly to be allocated for a one-year period and establishes an emergency clause for the Act to take effect on July 1, 2025. This urgency is aimed at ensuring timely transfers to enhance funding for state departments and institutions. Notably, it specifies that certain sections will take effect immediately upon passage, circumventing the general effective date to prevent delays in fund transfers and the administration of essential programs.

Statutes affected:
SB 636: 19-6-301, 19-5-202(b), 19-5-1263, 19-5-1263(c), 19-5-905(a)
Act 1017: 19-6-301, 19-5-202(b), 19-5-1263, 19-5-1263(c), 19-5-905(a)