Bill Summary for S 807 (2019-2020)

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Bill: SAVINGS RESERVE/ADDITIONAL FUNDING.

Summary date: 

May 19 2020

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 807 (Public) Filed Tuesday, May 19, 2020
AN ACT TO TRANSFER ADDITIONAL FUNDING TO THE SAVINGS RESERVE.
Intro. by Brown, Harrington, B. Jackson.

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Bill summary

Requires the State Controller to transfer an additional $623 million in nonrecurring funds for 2020-21 to the Savings Reserve. Specifies that this is not an "appropriation made by law" as used in Article V of the State Constitution. Effective July 1, 2020.