This bill aims to enhance the sustainability of state finance by revising various financial mechanisms and appropriations. Key provisions include changes to the transfer percentages into the Budget Stabilization Reserve Fund and the Capital Developments Long-Range Building Program Account, as well as an increase in the caps for both the Budget Stabilization Reserve Fund and the Fire Suppression Fund. The bill also allows the Capital Developments Long-Range Building Program Account to cover bond payments and related costs, temporarily increases the Governor's emergency funds, and mandates that funds in the Capital Developments account be utilized to reduce the issuance of general obligation bonds.

Additionally, the bill establishes new local disaster resiliency funds and outlines eligible uses for these funds. It includes provisions for a pension fund, statutory appropriations, supplemental appropriations, and a contingent appropriation. The bill also requires a study of the state budget process concerning personal services expenditures and sets forth reporting requirements for the operation of state healthcare facilities. Several sections of existing law are amended to accommodate these changes, and the bill is designed to take effect immediately with a specified termination date.

Statutes affected:
HB0424_1.pdf: 10-3-312, 17-7-102, 17-7-130, 17-7-140, 17-7-209, 17-7-502, 76-13-150
HB0424_2.pdf: 10-3-312, 17-7-102, 17-7-130, 17-7-140, 17-7-209, 17-7-502, 76-13-150
HB0424_3.pdf: 10-3-312, 17-7-102, 17-7-130, 17-7-140, 17-7-209, 17-7-502, 76-13-150
HB0424_4.pdf: 10-3-312, 17-7-102, 17-7-130, 17-7-140, 17-7-209, 17-7-502
Amended: 10-3-312, 17-7-102, 17-7-130, 17-7-140, 17-7-209, 17-7-502, 76-13-150
Introduced: 10-3-312, 17-7-102, 17-7-130, 17-7-140, 17-7-209, 17-7-502, 76-13-150