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Bill Summary · LC 1859

Summary: LC 1859 — Transfer a portion of ending fund balance into the coal trust fund

Overview

LC 1859 is a bill titled “Transfer a portion of ending fund balance into the coal trust fund.” Its stated subject areas place it in state finance, money transfers, appropriations, taxation related to coal, and the Coal Tax Fund Principal. The bill’s core idea is to reallocates a portion of the state's ending fund balance to the Coal Trust Fund.

Purpose and Intent

  • Primary goal: shift a portion of the state’s ending fund balance into the Coal Trust Fund.
  • Intended effect: increase resources available to the Coal Trust Fund, potentially supporting coal-related programs, obligations, or initiatives authorized by the fund.

Key Provisions (as inferred from the title)

  • Authorization to transfer a portion of the ending fund balance to the Coal Trust Fund.
  • The exact portion, timing, and any conditions would be specified in the bill’s text (not provided in the summary you supplied).
  • Connection to broader fiscal tools: the bill sits at the intersection of appropriations and coal-related taxation/financing.

Note: The full text is not provided here, so the above reflects the bill’s descriptive title and classification. Specific transfer amounts, eligible uses, revocation provisions, or sunset clauses would require the actual bill language.

Affected Parties and Fiscal Implications

  • Affected Funds: Ending fund balance (state general or designated ending fund) and the Coal Trust Fund.
  • Affected Entities: State treasury/finance authorities, agencies administering the Coal Trust Fund, and any programs funded by that trust.
  • Fiscal impact (high-level): Potential reduction in the ending fund balance and a corresponding increase in the Coal Trust Fund, with downstream effects on coal-related programs or appropriations. No dollar amounts are specified in the provided materials.

Procedural History and Timeline

  • Introduced: November 22, 2024
  • Drafter Assigned: November 22, 2024
  • Draft in Edit/Legal/Input stages: December 2024
    • Draft in Input/Proofing (Dec 13)
    • Draft in Legal Review (Dec 10)
    • Draft in Final Drafter Review (Dec 17)
    • Draft Ready for Delivery (Dec 23)
    • Draft in Assembly (Dec 18)
  • Draft Delivered to Requester: January 7, 2025
  • Draft Died in Process: January 15, 2025
  • Status: Died in Process (LC)

Status and Next Steps

  • Current status: The bill died in the legislative process and did not advance toward enactment.
  • If reintroduced: A future version could adjust the transfer amount, timing, uses of funds, or conditions to address budgetary needs or coal program priorities.
  • For readers: To understand any potential future impact, access to the bill’s full text would be necessary to review specific provisions and compliance with existing statutes.

Notes

  • The available information focuses on the bill’s title, subject areas, and drafting timeline. Without the full text, the precise mechanics, eligibility, and operational details remain unspecified.
  • The bill is categorized under money transfers, state finance, and coal-related taxation/appropriations, indicating a fiscal reallocation rather than a revenue-raising or new program creation, at least in its stated approach.

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

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