PRIOR PASSAGE - NONE
A00024
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No.
51
Session of
2021
INTRODUCED BY O'NEAL, GROVE, KEEFER, LEWIS, STAATS, GREINER,
KAUFFMAN, RYAN, HAMM, ROTHMAN, JOZWIAK, OWLETT, WARNER, MOUL,
SANKEY AND GREGORY, JANUARY 11, 2021
REFERRED TO COMMITTEE ON STATE GOVERNMENT, JANUARY 11, 2021
A JOINT RESOLUTION
Proposing an amendment to the Constitution of the Commonwealth
of Pennsylvania, in taxation and finance, further providing
for surplus.
The General Assembly of the Commonwealth of Pennsylvania
hereby resolves as follows:
Section 1. The following amendment to the Constitution of
Pennsylvania is proposed in accordance with Article XI:
That section 14 of Article VIII be amended to read:
ยง 14. [Surplus] Budgetary reserves and surplus funds.
[All surplus of operating funds at the end of the fiscal year
shall be appropriated during the ensuing fiscal year by the
General Assembly.]
(a) At the end of each fiscal year, the State Treasurer
shall transfer the surplus of all operating funds into the
Budget Stabilization Reserve Fund until the amount in the Budget
Stabilization Reserve Fund is equal to or exceeds 20% of the
Commonwealth's total revenue collection. the volatility rate of
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the Commonwealth's total revenue sources. The Department of
Revenue shall certify the volatility rate of the Commonwealth's
total revenues sources on December 16 of each year and make the
information available to the public.
(b) Surplus operating funds at the end of a fiscal year in
which the Budget Stabilization Reserve Fund balance exceeds 20%
the volatility rate of the Commonwealth's total revenue
collection sources shall be appropriated during the ensuing
fiscal year by the General Assembly.
(c) Money transferred into the Budget Stabilization Reserve
Fund under subsection (a) shall be subject to the following
restrictions:
(1) The State Treasurer may loan up to 20% of the balance in
the Budget Stabilization Reserve Fund to pay obligations of the
General Fund if the money in the General Fund is insufficient to
pay the obligations of the General Fund. The money shall be
repaid within the fiscal year in which it is loaned.
(2) The General Assembly shall not appropriate money in the
Budget Stabilization Reserve Fund unless approved by two-thirds
of the members in the Senate and the House of Representatives.
Section 2. (a) Upon the first passage by the General
Assembly of this proposed constitutional amendment, the
Secretary of the Commonwealth shall proceed immediately to
comply with the advertising requirements of section 1 of Article
XI of the Constitution of Pennsylvania and shall transmit the
required advertisements to two newspapers in every county in
which such newspapers are published in sufficient time after
passage of this proposed constitutional amendment.
(b) Upon the second passage by the General Assembly of this
proposed constitutional amendment, the Secretary of the
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Commonwealth shall proceed immediately to comply with the
advertising requirements of section 1 of Article XI of the
Constitution of Pennsylvania and shall transmit the required
advertisements to two newspapers in every county in which such
newspapers are published in sufficient time after passage of
this proposed constitutional amendment. The Secretary of the
Commonwealth shall submit this proposed constitutional amendment
to the qualified electors of this Commonwealth at the first
primary, general or municipal election which meets the
requirements of and is in conformance with section 1 of Article
XI of the Constitution of Pennsylvania and which occurs at least
three months after the proposed constitutional amendment is
passed by the General Assembly.
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