ARIZONA HOUSE OF REPRESENTATIVES

Fifty-fifth Legislature

Second Regular Session

House: APPROP DP 8-5-0-0

HB 2843: state budget implementation; 2022-2023

Sponsor: Representative Cobb (with permission of committee on Rules), LD 5

Caucus & COW

Overview

Contains session law provisions needed to implement the FY 2023 budget.

History

Current statute establishes the Budget Stabilization Fund (Fund) that consists of monies transferred from the state General Fund (GF) according to statute. The annual budget recommendations from the Governor and the Joint Legislative Budget Committee must include estimates of required appropriations or transfers. A final determination of the amount to be appropriated or transferred to or from the Fund is made using personal income and price deflator estimates as reported in the second calendar quarter for the preceding calendar year (A.R.S. § 35-144).

Provisions

1. Requires, as session law, any unrestricted monies received by the state beginning July 1, 2022 through June 30, 2023 to be deposited in the GF.

a) Stipulates that these monies must be used to pay essential government services; and

b) Contains a retroactivity clause of July 1, 2022. (Sec. 1)

2. States, as session law, that the Legislature is not required to appropriate monies to or transfer monies from the Fund through FY 2025. (Sec. 2)

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6. HB 2843

7. Initials SJ Page 0 Caucus & COW

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