House Bill No. by Representative McFarland proposes significant changes to the management of state treasury funds, specifically regarding the Revenue Stabilization Trust Fund. The bill authorizes the transfer of $148,771,996 from the State General Fund surplus for Fiscal Year 2023-2024 to the Budget Stabilization Fund. Additionally, it amends the existing law to lower the minimum fund balance required for the Revenue Stabilization Trust Fund from $5 billion to $2.2 billion and increases the allowable percentage for appropriations from 10% to 33% for Fiscal Year 2025-2026.

Furthermore, the bill allows for the appropriation of funds from the Revenue Stabilization Trust Fund to address emergency conditions across the state, contingent upon the approval of two-thirds of each house of the legislature. The act will take effect upon the governor's signature or after the designated period for gubernatorial action if not signed. This legislation aims to enhance the flexibility of state funds in response to fiscal needs and emergencies.

Statutes affected:
HB461 Original: