The bill establishes a framework for a continuous state budget that remains in effect until it is amended, lapsed, or eliminated by the legislature. It stipulates that if the legislature does not take action on existing appropriations by July 1 of any year, those appropriations will automatically carry over into the new fiscal year. Additionally, it outlines the conditions under which appropriations can be considered conditional, requiring approval from designated authorities before expenditures can be made. The bill also grants the secretary of administration the authority to lapse appropriations that are no longer necessary and to make temporary reallocations of funds under specific conditions, including consultation with relevant budgetary officials.

Furthermore, the bill sets limits on the total amount of temporary reallocations that can be made from the state general fund and other special revenue funds, with specific percentages outlined for different scenarios. It emphasizes the need for consultation with the director of the budget and the director of legislative research before reallocations occur. The provisions also include a requirement for monthly reporting on any outstanding or proposed reallocations to the relevant legislative committees. Overall, the bill aims to provide flexibility in managing state funds while ensuring oversight and accountability in the budget process.