SENATE BILL REPORT

                                   ESB 6284

                       AS PASSED SENATE, MARCH 12, 1992

Brief Description:  Transferring money from the budget stabilization account.

SPONSORS: Senators McDonald and Niemi; by request of Governor Gardner

BACKGROUND:

The budget stabilization account was created by the Legislature in 1981 to provide a resource for the stable financing of essential state services during periods of revenue shortfall.  Currently, the budget stabilization account has a balance of $260 million.

SUMMARY:

The Legislature finds that state revenues have fallen below previous projections.  A total of $160 million from the budget stabilization account is appropriated to the general fund to provide for the continuation of agency programs.

Appropriation:  yes

Revenue:  none

Fiscal Note:  none requested

Effective Date:  The bill contains an emergency clause and takes effect immediately.