This bill creates the State Employee Compensation Stabilization Fund within the Department of Administrative and Financial Services. Funds must be used to augment the salaries of state employees to provide parity between the salaries of state employees and the salaries of comparable positions in the public and private sectors as determined by a market pay study. Unexpended balances in the fund at the end of the fiscal year do not lapse and are carried forward to the next fiscal year. "State employees," as used in the bill, refers to employees of the executive branch. The bill amends provisions governing the allocation of excess General Fund revenues to fund the State Employee Compensation Stabilization Fund. The bill reduces the
41 percentage of funds received by the Highway and Bridge Capital program from 20% to
42
19% and directs to the State Employee Compensation Stabilization Fund 1% of the excess
43 General Fund revenues left over after certain transfers are made.

Statutes affected:
Bill Text LD 1539, SP 623: 5.1536