LRB-1535/P1
MPG&MIM:emw
2023 - 2024 LEGISLATURE
DOA:......Ziegler, BB0369 - General Fund Required Balance
For 2023-2025 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
State government
State finance
Required general fund statutory balance
Current statutes contain a rule of proceeding governing legislative action on certain bills. Generally, the rule provides that no bill directly or indirectly affecting general purpose revenues may be adopted if the bill would cause the estimated general fund balance on June 30 of any fiscal year to be less than a certain amount of the total GPR appropriations for that fiscal year. Beginning in fiscal year 2017-18, that amount has been equal to the prior fiscal year's required statutory balance plus $5,000,000, but not to exceed 2 percent of total GPR appropriations for the fiscal year.
This bill provides that for fiscal year 2023-24 and each fiscal year thereafter, the amount is $600,000,000.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 20.003 (4) (L) of the statutes is amended to read:
20.003 (4) (L) For fiscal year years 2017-18 and each fiscal year thereafter to 2022-23, an amount equal to the prior fiscal year's required statutory balance plus $5,000,000, but not to exceed 2 percent.
Section
2. 20.003 (4) (m) of the statutes is created to read:
20.003 (4) (m) For fiscal year 2023-24 and each fiscal year thereafter, $600,000,000.
(End)
