SENATE BILL NO. 648
AN ACT TO TRANSFER $3,050,000 INTO THE STATE'S BUDGET RESERVE ACCOUNT.
WHEREAS, the General Assembly has estimated Fiscal Year 1981 General Fund Revenue to be $645 million; and
WHEREAS, it is the intent of the General Assembly to bring the Budget Reserve Account up to its Constitutional maximum of 5% of estimated General Fund revenues; and
WHEREAS, doing so requires that the Budget Reserve Account be funded at a level of $32,250,000; and
WHEREAS, the sum of $29,200,000 is presently on deposit in the Budget Reserve Account of the General Fund;
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
The Secretary of Finance shall, on July 1, 1980, pay the sum of $3,050,000 from unencumbered General Funds remaining at the conclusion of Fiscal Year 1980 into the Budget Reserve Account of the State's General Fund.
Approved June 27, 1980