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Panel approves adjustment tied to capital development fund and 1% general-fund transfer
Summary
The Section A Subcommittee voted to approve a do-pass motion on DP 103, a present-law adjustment tied to the capital development fund. Legislative Fiscal Division staff said the change implements statutory 1% general-fund transfer mechanics and shifts roughly $9 million tied to prior debt service; the motion passed 5-3 on a roll-call vote.
The Section A Subcommittee on Oct. 12 approved a do-pass motion on DP 103, a present-law adjustment affecting the capital development fund that implements the statutory 1% general-fund transfer mechanism.
The change was moved by Representative Walsh. Joe Triem, deputy director of the Legislative Fiscal Division, told the committee the capital development fund was created in the 2019 legislative session and is funded by a statutory transfer of 1% of estimated general-fund revenues, minus debt service on issued or proposed debt. Triem said the DP before the committee reflects “a little over $9,000,000” that was being…
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