LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: HB 35 HLS 201ES 51
Bill Text Version: ENROLLED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: June 29, 2020 6:40 PM Author: BISHOP, S.
Dept./Agy.: Capital Outlay
Subject: Capital Outlay Savings Fund Analyst: Willie Marie Scott
FUNDS/FUNDING EN NO IMPACT GF RV See Note Page 1 of 1
Creates the Capital Outlay Savings Fund
The proposed legislation creates the Capital Outlay Savings Fund as a special fund and shall be comprised of non-recurring
state general fund revenues. Monies in the fund shall be used for capital outlay projects and to allocate or appropriate funds
into the Budget Stabilization Fund. Directs the treasurer to deposit $105,937,720 of non-recurring revenues from the FY 19
surplus into the fund. Further requires monies in the fund to be invested by the treasurer, and provides that all unexpended
and unencumbered monies in the fund at the end of the fiscal years, including interest earnings, shall remain in the fund.
Effective July 1, 2020.
EXPENDITURES 2020-21 2021-22 2022-23 2023-24 2024-25 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
REVENUES 2020-21 2021-22 2022-23 2023-24 2024-25 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
EXPENDITURE EXPLANATION
The purpose of the new fund created by the bill provides funding for capital outlay projects, and to provide deposits into the
Budget Stabilization Fund. Currently, the capital outlay bill for FY 21 (HB 2 Enrolled of 2020 ES1) does not contain
appropriations in contemplation of this new Fund.
Note: HB 2 contains $178,193,332 ($177,280,863 for FY 21 and $912,469 for FY 20 supplemental appropriations) of non-
recurring revenues from the FY 19 surplus.
REVENUE EXPLANATION
There is no anticipated direct material effect on governmental revenues as a result of this measure since all monies
appropriated shall be deposited by the state treasurer in the Comprehensive Capital Outlay Escrow Account. The General
Fund Non-recurring Revenues, by definition, are not expected until made available for capital outlay purposes. Therefore,
there is no fiscal impact of the Treasurer deposit these funds into the newly created Capital Outlay Savings Fund.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
John D. Carpenter
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Legislative Fiscal Officer