Bill
H 4026
Overview: Bill Number: H 4026, Title: Capital Reserve Fund, Status: Act No. 71, Introduced: April 10, 2025Purpose and Intent: The purpose of this joint resolution is to establish a
Overview: Bill Number: H 4026, Title: Capital Reserve Fund, Status: Act No. 71, Introduced: April 10, 2025
Purpose and Intent: The purpose of this joint resolution is to establish a Capital Reserve Fund to provide a dedicated source of funding for the state's infrastructure and capital improvement projects. The fund is intended to help the state address its long-term capital needs, such as the maintenance and repair of roads, bridges, public buildings, and other critical infrastructure.
Key Provisions:
- Creates the Capital Reserve Fund as a separate and distinct account within the state's general fund
- Requires an annual appropriation of a specified percentage of the state's general fund revenues to be deposited into the Capital Reserve Fund
- Allows the funds to be used for a wide range of capital projects, including the construction, renovation, and maintenance of state-owned facilities and infrastructure
- Establishes a governing board to oversee the management and allocation of the Capital Reserve Fund
Affected Parties and Impacts:
- The state government, which will have access to a dedicated funding source for its capital improvement needs
- Taxpayers, who may see a portion of their tax dollars directed to the Capital Reserve Fund
- Businesses and residents who rely on the state's infrastructure, as the fund will help maintain and improve these critical assets
Procedural and Timeline Considerations:
This joint resolution has been enacted into law as Act No. 71. The Capital Reserve Fund will be established and begin receiving annual appropriations as specified in the legislation.
Compiled from official sources — confirm details with the bill’s official record.
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