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19-5-1262. Rainy Day Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
19-5-1262. Rainy Day Fund.
(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the “Rainy Day Fund”.
(b) The Rainy Day Fund shall consist of:
(1) Funds transferred to the Rainy Day Fund from the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund;
(2) Attorney General settlement funds;
(3) Interagency transfers of funds to the Rainy Day Fund;
(4) Any revenues provided by law; and
(5) Any other funds and fund transfers provided for by law.
(c) The Chief Fiscal Officer of the State shall use the Rainy Day Fund for transfers to:
(1)(A) Provide funding for one (1) or more appropriations or reappropriations enacted by the General Assembly from the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund.
(B) At the time of a transfer under subdivision (c)(1)(A) of this section, the Chief Fiscal Officer of the State shall notify the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, of the transfer of funds, the amount of funds transferred, and the purpose of the transfer; and
(2) One (1) or more funds or fund accounts authorized by the General Assembly, other than the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund, upon prior approval by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 19-5-1262
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:19-5-1262
Source file: gov.ar.code.title.19.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4c4554581d6b6cd9fc4dbcbe821246813bec343a93fe347fcf05a7f43aca575a
Source location: content.xml paragraph 10169
Stored source content
19-5-1262. Rainy Day Fund.
(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the “Rainy Day Fund”.
(b) The Rainy Day Fund shall consist of:
(1) Funds transferred to the Rainy Day Fund from the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund;
(2) Attorney General settlement funds;
(3) Interagency transfers of funds to the Rainy Day Fund;
(4) Any revenues provided by law; and
(5) Any other funds and fund transfers provided for by law.
(c) The Chief Fiscal Officer of the State shall use the Rainy Day Fund for transfers to:
(1)(A) Provide funding for one (1) or more appropriations or reappropriations enacted by the General Assembly from the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund.
(B) At the time of a transfer under subdivision (c)(1)(A) of this section, the Chief Fiscal Officer of the State shall notify the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee, of the transfer of funds, the amount of funds transferred, and the purpose of the transfer; and
(2) One (1) or more funds or fund accounts authorized by the General Assembly, other than the General Improvement Fund or its successor fund or fund accounts, including the Development and Enhancement Fund, upon prior approval by the Legislative Council or, if the General Assembly is in session, the Joint Budget Committee.
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