Amendment AA4-ASA2-AB7

LRBa0905/1

JTK:cjs:jf

2011 - 2012 LEGISLATURE

ASSEMBLY AMENDMENT 4, TO ASSEMBLY SUBSTITUTE AMENDMENT 2, TO 2011 ASSEMBLY BILL 7

May 11, 2011 - Offered by Representatives Seidel and Young.

AB7-ASA2-AA4,1,1 At the locations indicated, amend the substitute amendment as follows:

AB7-ASA2-AA4,1,2 1. Page 77, line 10: after that line insert:

AB7-ASA2-AA4,2,2 "(4) Restriction on expenditure of moneys for implementation. The government accountability board shall not encumber or expend any moneys for the purpose of implementing this act unless the board determines that there has been transferred from the general fund to the budget stabilization fund after the effective date of this subsection at least an amount equal to the greater of: 1) one-half of one percent of the actual general fund tax collections in the 2nd fiscal year preceding the fiscal year of the transfer; or 2) the amount, if any, by which the actual general fund tax collections in the 2nd fiscal year preceding the year of the transfer exceeded 6.5 percent of state personal income in the calendar year in which that 2nd preceding fiscal year began.".

AB7-ASA2-AA4,2,3 (End)