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Briefing explains bond levy equalization closeout, transfers and governor's proposed transfers
Summary
Legislative staff explained transfers included in the governor's budget, how House Bill 521 closed the bond levy equalization program and why remaining balances in that fund are proposed to transfer back to the general fund.
Keith Bybee and committee staff reviewed the cash reconciliation section of the budget book and the set of transfers to other funds included in the governor's proposal.
Bybee told the committee that House Bill 521 (referenced during the presentation as H 521) closed the older bond levy equalization program and established a new state bonding structure for school facilities; he said the law directs the remaining bond levy equalization balance be…
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