HB3887 - Tennessee: Budget Procedures, Highways, Roads And Bridges, Transportation, Dept. Of

Companion Bill SB3879. Budget Procedures - Prohibits transfer or diversion of state highway funds. - Amends TCA Section 4-3-1016;54-2-102;54-2-103. Fiscal Summary for HB3887 / *SB3879 Decrease State Expenditures - Not Significant Other Fiscal Impact - This would prevent a shift of funds from one state fund to another. Current law provides the Commissioner of Finance and Administration with the authority to transfer Highway Fund dollars to the General Fund. In FY05-06, there was a net transfer of $55,800,000 from the Highway Fund to the General Fund. In FY 06-07, there was a net transfer of $30,300,000 from the Highway Fund to the General Fund. According to the Department of Finance and Administration, it is estimated that $15,061,200 will be transferred from the Highway Fund to the General Fund in FY07-08. According to the Governors recommended budget, there is no such [...]

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