State budget on today's calendar
The House will vote to move the 2007 Revenue Stabilization Act and the 2007 General Improvement Fund Distribution Law out of the House today. Both proposals have remained on members' desks for the required three days. Here's a good read by Seth Blomeley today on GIF/surplus spending.
The Revenue Stabilization Act is the mechanism that facilitates a balanced budget and prevents deficit spending by allocating general revenue to the various fund accounts for state agencies by priority. As taxes are collected, they are distributed first to the funds and in the proportions set out in the A category, then the B category. HB2338 does not provide for a C category for this biennium.
Our RSA is unique in this country. It was proposed by Governor Ben Laney and enacted by the legislature in 1945 after all taxes were earmarked and dedicated for specific purposes from the previous session -- some services became over-funded while others were short. For further explanation of the Arkansas budget process and for all revenue sources and funding for the state, click here.
Update (9:15 a.m.): The RSA passed 97-0 and the GIF distribution passed 96-0.
Update (2:45 p.m.): We also passed out the Senate identical RSA bill. Truthfully, we could probably recess today if GIF was on its way to the governor, but it appears as though Monday (and especially Tuesday) will be light. In other voting today, we voted down the alternative payday lender bill, passed a state version to federal law to criminalize the concealment of illegal aliens, and voted down a $5 MM GIF appropriation for charter schools. There was no motion to remove SB959 from committee.
Update (3:30 p.m.): Just returned from Rules, where SB795 failed on a voice vote. Now waiting on bills from the Senate to be read across the desk here in the chamber.
The Revenue Stabilization Act is the mechanism that facilitates a balanced budget and prevents deficit spending by allocating general revenue to the various fund accounts for state agencies by priority. As taxes are collected, they are distributed first to the funds and in the proportions set out in the A category, then the B category. HB2338 does not provide for a C category for this biennium.
Our RSA is unique in this country. It was proposed by Governor Ben Laney and enacted by the legislature in 1945 after all taxes were earmarked and dedicated for specific purposes from the previous session -- some services became over-funded while others were short. For further explanation of the Arkansas budget process and for all revenue sources and funding for the state, click here.
Update (9:15 a.m.): The RSA passed 97-0 and the GIF distribution passed 96-0.
Update (2:45 p.m.): We also passed out the Senate identical RSA bill. Truthfully, we could probably recess today if GIF was on its way to the governor, but it appears as though Monday (and especially Tuesday) will be light. In other voting today, we voted down the alternative payday lender bill, passed a state version to federal law to criminalize the concealment of illegal aliens, and voted down a $5 MM GIF appropriation for charter schools. There was no motion to remove SB959 from committee.
Update (3:30 p.m.): Just returned from Rules, where SB795 failed on a voice vote. Now waiting on bills from the Senate to be read across the desk here in the chamber.
posted by Steve Harrelson @ 3/30/2007 05:19:00 AM | Permalink |
<< Home