Use of state general fund investment earnings.

Authors: Senator James Merritt


Provides that beginning after the 2016 state fiscal year, the investment earnings on the state general fund for the preceding state fiscal year shall be distributed to counties if the combined balances of the state general fund, the Medicaid contingency and reserve account, the state tuition reserve fund, and the state rainy day fund exceed $1,000,000,000. Specifies that the investment earnings are distributed to counties proportionately based on population. Provides that a distribution received by a county may be used, after appropriation by the county fiscal body, only for purposes related to health, mental health, education, and nutrition. Specifies certain permissible uses.