33.285. Budget stabilization fund created--funding appropriations, when--transfer, when--powers of governor and general assembly.
Budget stabilization fund created--funding appropriations,when--transfer, when--powers of governor and general assembly.
33.285. 1. The "Budget Stabilization Fund" is herebycreated in the state treasury for use in meeting the programfunding requirements of the state.
2. In any budget submitted to the general assembly, thegovernor may recommend an appropriation to the budgetstabilization fund, which appropriation shall be subject to theprovisions of subsection 4 of this section.
3. Moneys in the budget stabilization fund which are notappropriated to the governor to meet program funding requirementsof the state in any year shall be invested by the state treasurerin the same manner as other surplus funds are invested. Interestearned on such investments shall be credited to the budgetstabilization fund, subject to the provisions of subsection 4 ofthis section.
4. In the event that any amount to be transferred orcredited to the budget stabilization fund in any year pursuant tosubsection 2 or 3 of this section would cause the balance in thefund to exceed five percent of the receipts into the generalrevenue fund for the preceding fiscal year, then to the extent ofsuch excess:
(1) An appropriation otherwise required to be recommendedpursuant to subsection 2 of this section shall be reduced; and
(2) Interest earnings shall be credited to the generalrevenue fund.
5. If at the close of any fiscal year the balance in thebudget stabilization fund shall exceed five percent of thereceipts into the general revenue fund for the same period, suchexcess shall be transferred to the general revenue fund on orbefore the tenth day of the succeeding fiscal year.
6. The general assembly may annually appropriate to thegovernor amounts from the budget stabilization fund to be usedas a reserve to meet budget shortfalls. In any fiscal yearin which the governor reduces the expenditures of the state orany of its agencies below their appropriations in accordance withsection 27 of article IV of the Missouri Constitution, and onlyduring that period of time in which the general assembly is inregular or extraordinary session, the governor may authorize thecommissioner of administration to transfer funds appropriated tothe governor from the budget stabilization fund to fulfill theexpenditures authorized by any of the existing appropriationswhich were affected by the governor's decision to reduceexpenditures pursuant to section 27 of article IV of the MissouriConstitution. Prior to making any authorization for the transferof funds appropriated from the budget stabilization fund, thegovernor shall notify the general assembly of his intent to makesuch authorization; and, if not disapproved by concurrentresolution within thirty days of the receipt of such notice bythe general assembly, such authorization shall be valid. Noamount shall be expended from funds appropriated to the governorfrom the budget stabilization fund unless pursuant to anauthorization by the governor as specified in this subsection.
7. Except as provided in subsection 4 of this section, anyamount appropriated to the governor from the budget stabilizationfund and not expended at the end of any fiscal year shall revertto the fund and balances remaining in the budget stabilizationfund at the close of any fiscal year shall not be subject to theprovisions of section 33.080.
8. The general assembly shall not appropriate moneys fromthe budget stabilization fund without authorization from thegovernor.
(L. 1985 H.B. 838)*Contingent repeal of this section, see subsection 2 of section 33.288, RSMo.