Act No. 52

(H.75)

Taxation and finance; appropriations; interim budget; reductions

This act amends the statutory rules for adjusting appropriations when the general assembly is not in session, in the event of reductions in official revenue forecasts.

The prior law referred to the ability to reduce appropriations. The new law allows adjustments to appropriations and their sources of funding, including transfers of funds.

The new law provides that reductions in appropriations under this act may not exceed the cumulative reductions in revenue for the fiscal year; and may not exceed four percent of the original revenue estimate used to create the budget; and also provides that adjustments may not include any adjustment to revenues or expenditures of the education fund.

Date Signed by the Governor: June 1, 2009

Effective Date: July 1, 2009