Current Amendment: DAD refund.DOCX to Bill 3700
Senator DAVIS proposes the following amendment (DAD REFUND):
Amend the bill, as and if amended, Part IB, Section 90, STATEWIDE REVENUE, page 538, after line 14, by adding an appropriately numbered new proviso to read:
/ 90.___. (SR: Refund) There is appropriated to the Department of Employment and Workforce for repayment on outstanding federal loans associated with the Unemployment Insurance Trust Fund, an amount equal to any amount of general fund revenue collected through the third quarter of the fiscal year in excess of the amount projected to be available to fund appropriations made with general funds in this act or any supplemental appropriations act for the first three quarters of the fiscal year. If the balance in the general reserve fund established pursuant to Section 36, Article III of the Constitution of this State and Section 11-11-310 is less than the required balance, the excess revenue collected must instead be deposited in the general reserve fund. This amount does not replace or supplant the minimum replenishment amount otherwise required to be made to the general reserve fund. Any amount remaining after the general reserve fund is replenished must be used to provide the refund established by this paragraph.
Renumber sections to conform.
Amend sections, totals and title to conform.