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1 Revenue Stabilization Reserve Account; Reimbursement of Dedicated Funds. Amend RSA 9:13-e, II to read as follows:
II.(a) There is hereby established within the general fund general ledger a revenue stabilization reserve account. At the close of the fiscal biennium ending June 30, 2001, and at the close of each fiscal biennium thereafter, any surplus, as determined by the official audit performed pursuant to RSA 21-I:8, II(a) and subject to the limitation in subparagraph (b), shall be transferred by the comptroller to a special nonlapsing revenue stabilization reserve account. The comptroller is hereby directed to establish the revenue stabilization reserve account in which to deposit any money received from a general fund operating budget surplus. The state treasurer shall invest funds in this account as authorized by RSA 6:8. The interest so earned shall be deposited as unrestricted general fund revenue.
(b) Prior to deposit in the revenue stabilization reserve account, the surplus shall be reduced by the amount necessary to reimburse any dedicated fund or account identified in RSA 6:12, I(b) from which, during the previous biennium, funds were transferred to the general fund or otherwise used for a purpose not stated in the statutory authority for that fund or account. If multiple dedicated funds or accounts are involved, the surplus funds shall be divided and dispersed to each in proportion to the amounts originally transferred from those funds or accounts, as necessary to make them whole. The governor shall direct the comptroller to transfer such sums.
2 Effective Date. This act shall take effect July 1, 2017.
Text to be added highlighted in green.
1 Revenue Stabilization Reserve Account; Reimbursement of Dedicated Funds. Amend RSA 9:13-e, II to read as follows:
II.(a) There is hereby established within the general fund general ledger a revenue stabilization reserve account. At the close of the fiscal biennium ending June 30, 2001, and at the close of each fiscal biennium thereafter, any surplus, as determined by the official audit performed pursuant to RSA 21-I:8, II(a) and subject to the limitation in subparagraph (b), shall be transferred by the comptroller to a special nonlapsing revenue stabilization reserve account. The comptroller is hereby directed to establish the revenue stabilization reserve account in which to deposit any money received from a general fund operating budget surplus. The state treasurer shall invest funds in this account as authorized by RSA 6:8. The interest so earned shall be deposited as unrestricted general fund revenue.
(b) Prior to deposit in the revenue stabilization reserve account, the surplus shall be reduced by the amount necessary to reimburse any dedicated fund or account identified in RSA 6:12, I(b) from which, during the previous biennium, funds were transferred to the general fund or otherwise used for a purpose not stated in the statutory authority for that fund or account. If multiple dedicated funds or accounts are involved, the surplus funds shall be divided and dispersed to each in proportion to the amounts originally transferred from those funds or accounts, as necessary to make them whole. The governor shall direct the comptroller to transfer such sums.
2 Effective Date. This act shall take effect July 1, 2017.