SB 18
Revises provisions relating to state financial administration. (BDR 31-415)
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill changes how state money is handled at the end of a fiscal year. Currently, any remaining funds in a state agency’s budget account revert back to the source of funding. SB 18 allows state agencies within the Executive Department to retain 50% of those remaining funds, as long as they aren't obligated for spending by the end of the fiscal year. These retained funds can then be used by the agency for any purpose related to its responsibilities. The bill includes exceptions for supplemental appropriations and doesn’t apply to certain boards.
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Primary sponsor
Senate Committee on Government Affairs
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