Introduced
by
To transfer $118 million in unspent 2005 state revenue from the General Fund to the Budget Stabilization Fund (BSF or "rainy day fund"). Note: Current law requires the Single Business Tax (SBT) rate to drop by .1 percentage point in every year that the BSF exceeds $250 million. By itself this bill would not bring the BSF to that level.
Referred to the Committee on Appropriations
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that also would spend $21.5 million more on home heating subsidies paid to households with income levels below a certain amount. This money comes from extra money paid by ratepayers (customers) to major utility companies under so-called "utility competition" laws.
The substitute passed by voice vote
Amendment offered
by
To spend $58 million of unspent state tax and other revenue on home heating subsidies paid to households with income levels below a certain amount, rather than placing it in the rainy day fund.
The amendment failed 18 to 19 (details)
Passed in the Senate 23 to 13 (details)
To transfer $116.3 million in unspent 2005 state revenue from the General Fund to the Budget Stabilization Fund (BSF or "rainy day fund"), and also spend an additional $21.5 million on home heating subsidies paid to households with income levels below a certain amount. This $21.5 million comes from extra money paid by ratepayers (customers) to major utility companies under so-called "utility competition" laws.
Referred to the Committee on Appropriations
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Amendment offered
by
To strip out the BSF ("Rainy Day" Fund) deposit and leave just the provision appropriating extra money for home heating subsidies.
The amendment failed 49 to 57 (details)
Passed in the House 68 to 38 (details)
To transfer $116.3 million in unspent 2005 state revenue from the General Fund to the Budget Stabilization Fund (BSF or "rainy day fund"), and also spend an additional $21.5 million on home heating subsidies paid to households with income levels below a certain amount. This $21.5 million comes from extra money paid by ratepayers (customers) to major utility companies under so-called "utility competition" laws.
