S.4623

Establishes Unanticipated Revenue Fund; dedicates monies in fund to provision of one-time gross income tax credits to State residents.

This bill establishes the “Unanticipated Revenue Fund” as a special fund within the General Fund. The fund is required to annually be credited with all General Fund revenues that are collected in excess of the amounts anticipated in the Governor’s revenue certification. The amount to be credited to the fund will be determined by the State Treasurer, on or before December 30 of each year, based on the difference, if any, between the anticipated revenue certified by the Governor upon approval of the annual appropriations act and the amount of revenue actually deposited in the General Fund.