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LC 4312

Transfer a portion of ending fund balance into the coal trust fund

2025 Regular Session

Transfers a portion of the ending fund balance to the coal trust fund, boosting resources for coal programs, reclamation, and related energy initiatives while reducing carryover.

(LC) Draft Ready for Delivery
#statefinance(seealso:appropriations;taxationsubjects)
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Bill Summary · LC 4312

Summary of LC 4312 — Transfer a portion of ending fund balance into the coal trust fund

Overview

LC 4312 is a bill introduced on January 15, 2025 titled “Transfer a portion of ending fund balance into the coal trust fund.” The bill is currently in the Legislative Council (LC) drafting phase and listed as Draft Ready for Delivery. The objective, as indicated by the title, is to move a portion of the state’s ending fund balance into a coal trust fund, thereby increasing resources available to the coal-related trust.

Purpose and intent

  • The core intent appears to be to augment the coal trust fund by reallocating a portion of the state’s ending fund balance.
  • The bill would aim to provide additional resources dedicated to the coal trust fund, which is typically used for purposes related to coal industry programs, reclamation, economic development in coal communities, or related energy and environmental initiatives. (Note: specific uses would be defined in the enacted text.)

Key provisions (as suggested by the title)

Because the text of the bill is not provided here, the following provisions are not yet confirmed and would be detailed in the final draft. In similar bills, expected provisions typically include:
- A defined portion or formula for the transfer from the ending fund balance (e.g., a fixed dollar amount or a percentage of the ending balance).
- Timing of the transfer (e.g., annually at fiscal year-end or on a specified date).
- Authorization or restrictions on how the coal trust fund may use the transferred resources.
- Any conditions, such as caps, sunset provisions, or coordination with ongoing budgetary constraints.
- Oversight, reporting, or audit requirements related to the transfer and use of funds.
- Interaction with existing appropriations and budget rules (to ensure legality and compatibility with other fiscal policies).

Fiscal and budgetary impact

  • Direct effect: The ending fund balance would be reduced by the amount transferred to the coal trust fund.
  • Indirect effects: Increased resources in the coal trust fund could enable funding for coal-related programs, reclamation, workforce development, or energy initiatives—depending on the statutory purpose of the coal trust fund.
  • Potential budgetary considerations: The change could affect near-term carryover, budget flexibility, and long-term fiscal planning if the ending balance is a significant source of carryover or stabilization funds.

Parties affected

  • State finance office and budget administrators responsible for ending fund balance and fund transfers.
  • Administrators and beneficiaries of the coal trust fund (organizations or agencies that administer or receive coal trust fund resources).
  • Legislative fiscal committees and auditors that review and monitor fund transfers and compliance.

Procedural status and timeline

  • Introduced: January 15, 2025.
  • Legislative Actions (all dated January 15, 2025):
    • Drafter Assigned
    • Draft in Legal Review
    • Draft in Input/Proofing
    • Draft in Edit
    • Draft in Final Drafter Review
    • Draft in Assembly
    • Draft Ready for Delivery
  • Current status indicates the bill is in the drafting and Assembly preparation stage, with delivery to the legislature anticipated after finalization of the draft.

Next steps for tracking

  • Obtain the full bill text to confirm the exact transfer amount or formula, eligible uses of the coal trust fund, and any conditions or sunset provisions.
  • Review fiscal impact notes and any committee hearings or amendments.
  • Monitor updates on the legislative site for status changes (e.g., moving from drafting to introduction in the chamber, committee assignments, and floor actions).

If you can share the enacted text or fiscal note, I can provide a more precise, line-by-line summary of provisions and fiscal implications.

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

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