Clarifying when funds accumulated by boards may be transferred to General Revenue Fund
This bill clarifies when state boards (like licensing boards) can transfer excess funds to the state's General Revenue Fund. It sets two conditions for transfers: when a board's special fund balance exceeds twice its annual budget or $10,000 (whichever is greater), and limits annual transfers to $200,000 per board. The Legislative Auditor must review the board's fees if a transfer occurs to check if fees are generating excessive revenue. This directly affects all state boards that collect fees for licensing or regulation.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 12, 2025
Last action Feb 12, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
3
Key actions
0
Committee
1
Feb 12, 2025
Introduced
Introduced in Senate
upper
Feb 12, 2025
Committee
To Finance
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Jack Woodrum
RRepublican
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