SB345 Alabama 2018 Session

Under existing law, revenues calculated for an upcoming budget include unrealized growth that may or may not occur. This unrealized growth is available for appropriation by the Legislature

This bill limits the amount that may be appropriated annually from the State General Fund to that received in the previous twelve months with some exceptions; provides for the disposition of revenues in excess of appropriations; creates and funds the General Fund Budget Reserve Fund and the General Fund Capital Fund; provides for the appropriation and use of the amounts deposited into the funds; provides for the distribution of State General Fund revenues exceeding appropriations annually; and caps the amount of taxes and revenues designated by general law for purposes other than education to the amount credited in the fiscal year ending September 30, 2019

To provide for the maximum amount that may be appropriated annually from the State General Fund; to provide for the disposition of revenues in excess of appropriations; to create and fund the General Fund Budget Reserve Fund and the General Fund Capital Fund; to transfer twenty-five percent (25%) of unspent and reverted State General Fund appropriations to the funds; to provide for the appropriation of amounts deposited into the funds; to provide for the distribution of State General Fund revenues exceeding appropriations annually; and to cap the amount of taxes and revenues designated by general law for purposes other than education to the amount credited in the fiscal year ending September 30, 2019.