FY 2021-22 SUPPLEMENTAL S.B. 85:
SUMMARY AS ENACTED
Senate Bill 85 (as enacted) PUBLIC ACT 132 of 2021
Sponsor: Senator Ken Horn
House Committee: Appropriations
Senate Committee: Appropriations
CONTENT
The supplemental would provide $1.0 billion in Gross and General Fund/General Purpose (GF/GP) funding to the Strategic Outreach and Attraction Reserve Fund in order to allow for grants through the transfer process to economic development projects. It also would provide $409.0 million Gross and Federal for aid to businesses affected by the COVID-19 pandemic and $75.0 million Gross and GF/GP in funding to help reimburse local units of government due to potential changes in industrial and commercial personal property tax exemptions.
Table 1 summarizes the Gross and GF/GP funding by Department in the supplemental.
Table 1
|
FY 2021-22 Supplemental Appropriations |
||||
|
Budget Area |
Gross |
Federal |
Restricted |
GF/GP |
|
Labor/Econ. Opportunity |
$1,000,000,200 |
$0 |
$200 |
$1,000,000,000 |
|
Treasury |
484,000,000 |
409,000,000 |
0 |
75,000,000 |
|
TOTAL |
$1,484,000,200 |
$409,000,000 |
$200 |
$1,075,000,000 |
FISCAL IMPACT
The bill provide