Reverse Transfers From Severance Tax Operational Fund
To avoid a fund deficit in the severance tax operational fund, the act reverses 5 transfers made from the fund to other cash funds after the fiscal year 2019-20. Specifically, the state treasurer is required to transfer the following amounts to the fund:
- $1,998,205 from the species conservation trust fund;
- $1,600,964 from the parks and wildlife aquatic nuisance species fund;
- $219,803 from the water efficiency grant program cash fund;
- $297,759 from the interbasin compact committee operation fund; and
- $3,996,410 from the water supply reserve fund.
(Note: This summary applies to this bill as enacted.)