LAPSE UNENCUMBERED BALANCES

TO RAINY DAY FUND (BSF)

House Bill 4108

Sponsor:  Rep. Tonya Schuitmaker

Committee:  Appropriations

Complete to 3-2-10

A SUMMARY OF HOUSE BILL 4108 AS INTRODUCED 1-22-09

House Bill 4108 would amend the Management and Budget Act to lapse the unencumbered balance of each appropriation to the Countercyclical Budget and Economic Stabilization Fund (BSF).  Under current law, the unencumbered balance of each appropriation lapses to the state fund from which it was appropriated. 

 

According to the State of Michigan Comprehensive Annual Financial Report, the total State fund balance for FY 2007-08 was $3.9 billion.  Some of this total represents constitutionally dedicated revenue or revenue earmarked to specific funds or purposes. 

MCL 18.1451

                                                                                                                       

                                                                                                  Fiscal Analyst:   Rebecca Ross

■ This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.