Department of Accounts Transfer Payments (162)
Request Title | Combined Reserve Fund Balance Limitation |
Biennium | 2022-2024 |
Budget Round | Initial Bill |
Half Sheet Number | 267 #1c |
Description
This amendment includes language allowing for the current statutory cap on the combined balance of the Rainy Day Fund and the Revenue Reserve Fund to not exceed 20% of the Commonwealth's average annual tax revenues derived from taxes on income and retail sales as certified by the Auditor of Public Accounts for the three fiscal years immediately preceding, from its current limitation of 15%, and directs the Secretary of Finance to deliver a report including recommendations on the modification to or removal of the existing statutory cap on the combined balance by September 1, 2022. |
Funding Details
By Program | Program Code | Program Title | FY 2022 | FY 2023 |
By Fund | Fund Code | Fund Title | FY 2022 | FY 2023 |
Authorized Position Details
By Program | Program Code | Program Title | FY 2022 | FY 2023 |
p3_opview - Official Enacted Budget View Operating Bullet Details - 07-18-2025 14:53:40