Parks & Wildlife Cash Funds

Joint Budget Committee. Currently, if a funding source for an appropriation is a cash fund, the state agency receiving the appropriation must annually calculate an amount equal to the recorded depreciation of capital assets acquired, repaired, improved, replaced, renovated, or constructed with the appropriated money. The state controller must credit the recorded depreciation amount from the cash fund that was the source of the funding for the appropriation to a capital reserve account established by the agency in the cash fund. The bill exempts the money in the wildlife cash fund from being credited to the capital reserve account.

Currently, a state agency terminating a lease for private leased space must calculate the annual reduction in the cost of leased space and the general assembly must transfer to the capital construction fund an amount equal to the reduction in the cost of leased space from the fund that was the source of the funding for the lease. The bill exempts the money in the wildlife cash fund from being transferred to compensate for the reduction in private leased space.

On July 1, 2024, the bill requires the state treasurer to transfer $1,198,224 from the capitol complex renovation fund to the wildlife cash fund and $273,204 from the capitol complex renovation fund to the division of parks and wildlife to be used by the division for the same purposes as other lottery proceeds distributions made pursuant to section 3 (1)(b)(II) of article XXVII of the state constitution.

(Note: This summary applies to this bill as introduced.)