Provides the Director of the Budget (Director) with the authority to adjust the General Fund budget to ensure there are sufficient funds to pay for the costs of the State Medicaid Program for the 2012-13 fiscal year.

Instructs the Director to make adjustments to increase the authorized budget of the Division of Medical Assistance. These adjustment include and are prioritized as follows:

(1) $20.9 million from funds not expended pursuant to Section  10.9G of SL 2012-142

(2) $74 million from drug rebate refunds

(3) a minimum of $67 million from projected reversions within the Department of Health and Human Services

(4) a maximum of $100 million from projected reversions within state agencies other than the Department of Health and Human Services

These adjustments can only be used to pay the costs of the State Medicaid Program, including drug rebates owed to the federal government. Funds from the adjustments that are not needed to pay Medicaid costs will revert back to the General Fund. Neither the Director nor any other State official can authorize an adjustment pursuant to this act if it creates or increases a financial obligation for the 2013-14 fiscal year or subsequent fiscal year.

Requires the Office of State Budget and Management and the Department of Health and Human Services, on or before October 1, 2013, to report to the Appropriations/Base Budget Committee of the Senate, the Appropriations Committee of the House of Representatives, and the Joint Legislative Commission on Governmental Affairs.