HB 760 -- State Budget Procedures

Sponsor:  Bearden

This bill requires the Governor to base required revenue
estimates on the lesser of the net general revenue estimate or an
amount actually spent for the most recent fiscal year exclusive
of expenditures for refunds increased or decreased by the
percentage change in the general price level and state
population.  In any year in which the percentage change in
productivity increases, the revenue estimate is to be decreased
by the percentage change and increased by any state spending
approved by voters.  The Governor may submit recommendations of
any laws necessary to provide revenues sufficient to meet
expenditures beyond those estimates.

The Governor's budget estimate of revenues and expenditures for
each fund is to include all outcome measures used in the past
three fiscal years and the projected outcome measures for the
current and next two fiscal years.  The budget must include the
most recent reports by the State Auditor's office and any
evaluations by the Oversight Division of the Committee on
Legislative Research.

The bill creates the Excess Revenue Collections Fund, which will
receive all revenues collected in excess of the revenues
projected by the Governor.  The balance in the fund is not to
exceed 7.5% of the net general revenues collected in the previous
fiscal year.  The maximum appropriation from the fund is not to
exceed one-half the balance in the fund.  Money deposited in the
fund is not to be used in the fiscal year in which it was
deposited in the fund.

The General Assembly may appropriate moneys from the fund for
nonrecurring expenditures by an affirmative vote of each chamber.
The Commissioner of the Office of Administration may, after May
15 of any fiscal year, transfer moneys from the fund to any other
fund without legislative action, if the transfer is necessary for
cash requirements of the state.  These transfers are to be deemed
cash operating transfers.  Cash operating transfers together with
interest that would have accrued, prior to June 30 of the fiscal
year in which the transfer was made, are to be transferred to the
General Revenue Fund.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:12 am