House Sponsors: SCHOENBERG-SILVA-FLOWERS-GASH, DAVIS,MONIQUE AND LANG. Short description: ST BUD-RAINY DAY & CHILD RESRV Synopsis of Bill as introduced: Creates the Rainy Day Budget Stabilization and Children First Act and amends the State Finance Act. Requires the Comptroller to transfer from the General Revenue Fund, during fiscal year 2001, $50,000,000 into a Budget Stabilization Fund and $50,000,000 into a Children First Reserve Fund. In each subsequent fiscal year when anticipated general revenues are estimated by the Governor to exceed the prior fiscal year's revenues by more than 4%, requires the Comptroller to transfer .25% of the anticipated revenues from the General Revenue Fund divided equally into the Budget Stabilization Fund and the Children First Reserve Fund. Permits suspension of transfers. Authorizes use of the Budget Stabilization Fund to meet general funds revenue shortfalls. Limits the use of the Children First Reserve Fund to meet shortfalls in funding educational and child care programs. Creates the necessary special funds within the State treasury. Effective immediately. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status