Bill Text: OH HB638 | 2013-2014 | 130th General Assembly | Introduced

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Bill Title: To require an annual deposit to the Budget Stabilization Fund equal to 5% of General Revenue Fund revenues for the preceding fiscal year.

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Introduced - Dead) 2014-10-20 - To Finance and Appropriations [HB638 Detail]

Download: Ohio-2013-HB638-Introduced.html

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As Introduced

130th General Assembly Regular Session 2013-2014

H. B. No. 638

Representatives Beck, Adams, J. 

Cosponsor: Representative Brown 

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A BILL

To amend section 131.43 of the Revised Code to

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require an annual deposit to the Budget

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Stabilization Fund equal to 5% of General Revenue

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Fund revenues for the preceding fiscal year.

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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Section 1. That section 131.43 of the Revised Code be amended	5
to read as follows:	6

Sec. 131.43.  There is hereby created in the state treasury	7
the budget stabilization fund. It is the intent of the general	8
assembly to maintain an amount of money inEach fiscal year	9
beginning with fiscal year 2016, the director of budget and	10
management shall deposit to the budget stabilization fund that	11
amounts to approximatelyan amount equal to five per cent of the	12
general revenue fund revenues for the preceding fiscal year. The	13
governor shall include in the state budget hethe governor submits	14
to the general assembly under section 107.03 of the Revised Code	15
proposals for transfers between the general revenue fund and the	16
budget stabilization fund for the ensuing fiscal biennium. The	17
balance in the fund may be combined with the balance in the	18
general revenue fund for purposes of cash management.	19

Section 2. That existing section 131.43 of the Revised Code	20
is hereby repealed.	21