Delaware Senate Bill 270
Session 152
An Act To Amend Title 29 Of The Delaware Code Relating To Budget And Fiscal Regulations, Establishing A Budget Stabilization Fund, Defining Deposit And Withdrawal Standards For The Fund, And Imposing Deposit And Withdrawal Norms Throughout The Annual Governor’S Recommended Budget Process.
Became Law
Signed by Governor on Jun 30, 2024
Sponsors
11 Sponsors
Trey Paradee
Brian Pettyjohn
Stell Parker Selby
Peter C. Schwartzkopf
David P. Sokola
John "Jack" Walsh
David L. Wilson
Paul S. Baumbach
Valerie Longhurst
Bryant L. Richardson
Daniel B. Short
First Action
Apr 16, 2024
Latest Action
Jun 30, 2024
Origin Chamber
Senate
Type
Bill
Bill Number
270
State
Delaware
Session
152
Stell Parker Selby
grade
Primary
checkPassed on June 18, 2024
Motion Text
SM
Senate Roll Call Votes
Other
Eric Buckson
Yes
Kyra L. Hoffner
Yes
Yes
Russell Huxtable
Yes
Yes
Summary
This Act is the statutory recognition of the recommendations set forth in the June 2, 2023, report of the DEFAC Benchmark Evaluation and Review Panel.
This Act builds on the State’s existing appropriation limit methodology by formalizing and maintaining the flexibility inherent in the Budget Stabilization Fund process currently enabled by Executive Order No. 21, approved on June 30, 2018, and the last 6 operating budget acts, including § 65 of the fiscal year 2024 Operating Budget Act.
Acknowledging this process in statute includes defining rules for deposits to and withdrawals from the Budget Stabilization Fund and adding an objective and stable measure of sustainable budget growth through an advisory index comprised of certain State economic indicators.
This Act requires that only the Governor’s recommended Budget Appropriation Bill consider this methodology and detail proposed plans, if any, deemed necessary or desirable in relation to state revenues or reserve funding.
Sort by most recent
06/30/2024
Office of the Governor
Signed by Governor
06/30/2024
House
Passed By House. Votes: 40 YES 1 ABSENT
06/25/2024
House
Reported Out of Committee (Administration) in House with 5 On Its Merits
06/20/2024
House
Assigned to Administration Committee in House
06/18/2024
Senate
Passed By Senate. Votes: 20 YES 1 ABSENT
05/08/2024
Senate
Reported Out of Committee (Executive) in Senate with 2 Favorable, 3 On Its Merits
04/16/2024
Senate
Introduced and Assigned to Executive Committee in Senate
Sources
Open States
Record Created
Apr 16, 2024 11:20:12 PM
Record Updated
Jul 14, 2024 1:58:25 AM