The bill amends the Management and Budget Act of 1984 by establishing a countercyclical budget and economic stabilization fund aimed at supporting revenue and employment during economic downturns. It specifies that funds deposited into this stabilization fund must be available for distribution by January 1 of the following calendar year. Additionally, the state treasurer is required to deposit interest accrued from this fund into the child care payment fund within 90 days of the bill's enactment, ensuring that all future interest from fund investments is also directed to the child care payment fund.

The bill also clarifies definitions related to the fund and its operations, including the definition of the "child care payment fund" and the term "fund" as it pertains to the countercyclical budget and economic stabilization fund. The enactment of this bill is contingent upon the passage of Senate Bill No. 946 of the 103rd Legislature.

Statutes affected:
Senate Introduced Bill: 18.1351