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 during the fiscal year immediately preceding the beginning of the regular session of the Legislature 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 certain taxes and revenues designated by general law to the amount credited in the fiscal year ending September 30, 2020.
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
Engrossed
Motion to Read a Third Time and Pass adopted Roll Call 357
Chambliss motion to Adopt adopted Roll Call 356
Chambliss first Substitute Offered
Marsh motion to Reconsider adopted Voice Vote
Motion to Read a Third Time and Pass adopted Roll Call 355
Third Reading Passed
Read for the second time and placed on the calendar
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Source: Alabama Legislature