FUND TRNSFR REVENUE SHORTFALLS

Amends the State Finance Act. Provides that transfers from the Tobacco Settlement Recovery Fund to the Budget Stabilization Fund shall cease upon the first transfer of moneys into the Budget Stabilization Fund under the provisions of the amendatory Act. Amends the Budget Stabilization Act. Provides that the Department on Aging and the Departments of Central Management Services, Healthcare and Family Services, Human Services, and Revenue shall annually certify to the State Comptroller the amounts of insufficient appropriations and individual and corporate income tax overpayments that will not be refunded in the current fiscal year. Provides that the State Comptroller shall annually report to the Governor and the General Assembly the amounts certified by the Department on Aging and the Departments of Central Management Services, Healthcare and Family Services, Human Services, and Revenue. Provides for minimum funding levels to be maintained in the Budget Stabilization Fund, and for the transfer of specified amounts to the Budget Stabilization Fund, if minimum funding levels are not maintained. Provides that no further transfers to the Fund shall be made if the balance of the Budget Stabilization fund equals 5% of the total general funds and if the Comptroller ceases the order of further funds upon written notice to the specified parties. Provides that the General Assembly may authorize the transfer of additional amounts to the Budget Stabilization Fund after the Governor certifies a shortfall in the moneys otherwise available in the Fund. Provides that required transfers into the Pension Stabilization Fund shall continue (rather than end in FY14) and increases the amount of those transfers by 1%. Effective immediately.