North Carolina 2017-2018 Session Status: In Committee 1 R cosponsors

SB 14 — LRC/Strengthen Savings Reserve.

Last action — Withdrawn From Com

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2017-2018 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

124 added · 124 removed

Plain-language change summary

The recent changes to Senate Bill 14 involve adding specific details to guidelines about North Carolina's Savings Reserve Account. The bill now explicitly states a goal for the account to hold at least 8% of the previous year's General Fund budget and outlines how 15% of the estimated growth in state tax revenues will be transferred into this account each year. This matters because it establishes clearer savings targets for the state and prepares better for unexpected financial challenges, helping ensure the state's economic stability during emergencies.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Jan 26, 2017 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2017 S 1 SENATE BILL 14* Short Title:
14 SESSION 2017 PRINCIPAL CLERK S D SENATE BILL DRS25002-LRfza-21A* (01/10) Short Title:
Jackson, Brown, and Harrington (Primary Sponsors).
Jackson, Brown, Harrington (Primary Sponsors);
Brock, Clark, Cook, Dunn, Horner, Newton, Rabin, Randleman, Tucker, and Wells.
A BILL TO BE ENTITLED AN ACT TO STRENGTHEN THE SAVINGS RESERVE, AS RECOMMENDED BY THE LEGISLATIVE RESEARCH COMMISSION.
Rules and Operations of the Senate January 30, 2017 A BILL TO BE ENTITLED AN ACT TO STRENGTHEN THE SAVINGS RESERVE, AS RECOMMENDED BY THE LEGISLATIVE RESEARCH COMMISSION.
(c) Goal for Savings Reserve Account Balance.
*S14-v-1* General Assembly Of North Carolina Session 2017 (c) Goal for Savings Reserve Account Balance.
– The General Assembly recognizes the need to establish and maintain sufficient reserves to address unanticipated events and *DRS25002-LRfza-21A* General Assembly Of North Carolina Session 2017 circumstances such as natural disasters, economic downturns, threats to public safety, health, and welfare, and other emergencies.
– The General Assembly recognizes the need to establish and maintain sufficient reserves to address unanticipated events and circumstances such as natural disasters, economic downturns, threats to public safety, health, and welfare, and other emergencies.
… (6) The Governor's Recommended State Budget shall include a transfer to the Savings Reserve of fifteen percent (15%) of the estimated growth in State tax Page 2 DRS25002-LRfza-21A* [v.3] (01/17) General Assembly Of North Carolina Session 2017 revenues for each fiscal year of the upcoming biennium.
… Page 2 Senate Bill 14*-First Edition General Assembly Of North Carolina Session 2017 (6) The Governor's Recommended State Budget shall include a transfer to the Savings Reserve of fifteen percent (15%) of the estimated growth in State tax revenues for each fiscal year of the upcoming biennium.
Any cash transferred from reserves or funds, including special funds, shall be fully restored by the end of the fiscal year in which the funds were transferred, DRS25002-LRfza-21A* [v.3] (01/17) Page 3 General Assembly Of North Carolina Session 2017 and interest shall be paid on all cash transferred to the General Fund pursuant to this subdivision from interest-bearing accounts." SECTION 7.
Any cash transferred from reserves or funds, including special funds, shall be Senate Bill 14*-First Edition Page 3 General Assembly Of North Carolina Session 2017 fully restored by the end of the fiscal year in which the funds were transferred, and interest shall be paid on all cash transferred to the General Fund pursuant to this subdivision from interest-bearing accounts." SECTION 7.
Page 4 DRS25002-LRfza-21A* [v.3] (01/17)
Page 4 Senate Bill 14*-First Edition
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Action History

  1. Withdrawn From Com

  2. Re-ref to Appropriations/Base Budget. If fav, re-ref to Rules and Operations of the Senate

  3. Passed 1st Reading

  4. Ref To Com On Rules and Operations of the Senate

  5. Filed

Sponsors

  • Wells · Cosponsor
  • Randleman · Cosponsor
  • Rabin · Cosponsor
  • Horner · Cosponsor
  • Harrington · Cosponsor
  • Dunn · Cosponsor
  • Cook · Cosponsor
  • Clark · Cosponsor
  • Brock · Cosponsor
  • Barefoot · Cosponsor
  • Tucker · Cosponsor
  • Newton · Cosponsor
  • Brown · Primary
  • Brent Jackson · Primary

Sponsorship breakdown

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2 sponsors · 12 co-sponsors · 165 not signed on

Sponsors (2)

Co-sponsors (12)

  • Wells
  • Randleman
  • Rabin
  • Horner
  • Harrington
  • Dunn
  • Cook
  • Clark
  • Brock
  • Barefoot
  • Tucker
  • Newton

Not signed on (165)

165 members have not signed on to this bill.

Show all 165 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

Who sponsors SB 14?
SB 14 is sponsored by Wells, Randleman, Rabin, Horner, Harrington, Dunn, Cook, Clark, Brock, Barefoot, Tucker, Newton, Brown, and Brent Jackson (Republican).
What is the current status of SB 14?
This bill died with 2017-2018 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 14?
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