HB 482 (2019)

Gives the fiscal committee the opportunity, four times a year, to use the Revenue Stabilization Reserve Account (commonly known as the Rainy Day Fund) to provide funding for the general fund of all tax revenue and the education trust fund, if combined revenue in both funds is below 95% of expectations. At the time of this bill's submission, the Rainy Day Fund may only be used for a general fund deficit at the close of each two-year budget. This bill also allows the fiscal committee to raise business taxes if the rainy day fund has a projected zero balance within six months.