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A 7440

Prohibits the transfer of unexpended moneys from funds receiving moneys from a dedicated fee into any other fund

2025 Regular Session Introduced by Joe DeStefano and 2 co-sponsors

Bill A 7440 ensures dedicated fees are used only for their intended purposes by prohibiting transfers of unspent funds, promoting fiscal accountability in public services.

REFERRED TO WAYS AND MEANS
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Bill Summary · A 7440

Summary of Bill A 7440

Bill Overview

  • Bill Number: A 7440
  • Title: Prohibits the transfer of unexpended moneys from funds receiving moneys from a dedicated fee into any other fund
  • Status: Referred to Ways and Means
  • Introduced On: March 27, 2025
  • Classification: Bill

Purpose and Intent

Bill A 7440 aims to ensure that funds collected through dedicated fees are used solely for their intended purposes. By prohibiting the transfer of unexpended moneys from these dedicated funds into other funds, the bill seeks to enhance fiscal accountability and transparency in the management of public funds.

Key Provisions

  • Prohibition on Transfers: The bill specifically prohibits the transfer of any unexpended moneys from funds that receive dedicated fees into any other fund. This means that any surplus funds that remain unspent at the end of a fiscal period must remain within the original dedicated fund.
  • Dedicated Fees: The term "dedicated fees" refers to specific charges or taxes collected for particular services or programs, which are intended to fund those services or programs directly.

Impact

  • Affected Entities:
    • State and Local Governments: This bill will primarily impact state and local government agencies that manage funds derived from dedicated fees. They will need to adjust their financial management practices to comply with the new prohibition.
    • Public Programs and Services: Programs funded by dedicated fees may experience more stable funding, as unspent funds cannot be redirected elsewhere, potentially leading to better resource allocation for the intended services.

Procedural Aspects

  • Current Status: As of March 27, 2025, the bill has been referred to the Ways and Means Committee for further consideration. This is a standard procedure for bills that require financial analysis and budgetary implications.
  • Related Legislation: The bill has several related bills from prior sessions, including A 2624, A 385, and others, indicating ongoing legislative interest in the management of dedicated funds. Additionally, there is a companion bill, S 1256, which may provide a parallel legislative approach in the Senate.

Conclusion

Bill A 7440 represents a significant step towards ensuring that dedicated fees are utilized for their intended purposes, thereby promoting fiscal responsibility within government agencies. As it progresses through the legislative process, stakeholders will need to monitor its implications for budget management and public service funding.

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

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