HB 2579
Initials FK Page 1 Caucus & COW
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
First Regular Session
House: APPROP DP 10-5-0-0
HB 2822: state budget implementation; 2023-2024
Sponsor: Representative Livingston, LD 28
Caucus & COW
Overview
Contains provisions relating to budgetary fund revisions needed to implement the FY 2024
budget.
History
According to statute, the Budget Stabilization Fund (Fund) consists of monies transferred from
the state General Fund (GF). 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 previous
calendar year's second calendar quarter (A.R.S. § 35-144).
Provisions
1. Requires, as session law, any unrestricted federal monies received by the State beginning
July 1, 2023 through June 30, 2024 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, 2023. (Sec. 1)
2. Stipulates, as session law, that the Legislature is not required to appropriate monies to or
transfer monies from the Fund through FY 2026. (Sec. 2)
3. States, as session law, that for FY 2024 the Fund is not limited to 10 percent of the GF revenue
for the fiscal year.
a) Prohibits the State Treasurer from transferring any surplus monies from the Fund to the
GF. (Sec. 2)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note