WeVote
Log In

Bill

WeVote Research Nonpartisan
Bill Summary · LC 955

LC 955 — Authorize transfers and other necessary measure to implement HB 2 section A

Summary

LC 955 is a draft bill described as authorizing transfers and other necessary measures to implement HB 2, Section A. The bill falls under state finance and appropriations, with a focus on money transfers and related fiscal mechanisms. The exact transfer amounts, fund names, and implementing details will be specified in the enacted version, but the bill’s stated purpose is to provide the authority and framework needed to carry out HB 2, Section A.

Purpose and Intent

  • Provide statutory authority for transfers between state funds and any ancillary measures deemed necessary to implement HB 2, Section A.
  • Align transfer authority with the implementation requirements of HB 2 Section A, facilitating execution of related programs, allocations, or financial operations as contemplated by HB 2.

Key Provisions (as suggested by title and subject)

  • Authorization of interfund transfers to support HB 2 Section A implementation.
  • Establishment of mechanisms or procedures needed to effect these transfers (e.g., approvals, timing, sequencing).
  • Potential adjustments to appropriations or allocations to enable HB 2 Section A requirements.
  • Provisions related to state-finance operations and accountability to ensure transfers occur within lawful budgetary constraints (exact mechanisms to be defined in the final text).

Note: The precise provisions, fund names, transfer ceilings, and implementation details are not provided in the available summary. The enacted bill will specify these elements.

Who Would Be Affected

  • State finance and budget offices responsible for managing appropriations and transfers.
  • State agencies that receive appropriations or funding through HB 2 Section A.
  • Auditors and legislative oversight bodies responsible for monitoring transfers and compliance.
  • Taxpayers and program beneficiaries indirectly, through changes in funding or program delivery tied to HB 2 Section A.

Fiscal Implications

  • The bill would authorize transfers between state funds to implement HB 2 Section A, influencing cash flow, timing of expenditures, and fund balances.
  • Specific dollar amounts, fund pools, and fiscal impact depend on the enacted language and the scope of HB 2 Section A.
  • Potential short-term and long-term budgetary effects will become clearer as the final text is developed and analyzed.

Procedural and Timeline Context

  • Introduced: November 8, 2024
  • Status: (LC) Draft Ready for Delivery; subsequently moved through drafting stages
  • Legislative actions:
    • 2024-11-08: Draft On Hold; Drafter Assigned
    • 2024-11-08 onwards: Draft moved through various drafting stages (Input/Proofing, Legal Review, Edit)
    • 2025-03-24 to 2025-03-27: Drafts in final review and Assembly preparation
  • Current stage: Draft in final drafter review and set for delivery to Assembly; labeled as (LC) Draft Ready for Delivery as of 2025-03-27

Notes for Readers

  • The final text will provide specific transfer authorities, eligible funds, timing rules, and any oversight or reporting requirements.
  • Stakeholders should monitor the bill’s enrolled version for concrete fiscal figures and implementation details related to HB 2 Section A.

If you’d like, I can tailor this summary once you provide the enacted bill text or any additional details you have about HB 2 Section A.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.