Ellington

It is important that every Legislator know the amount available to spend is $4,585,559,267 and that all appropriation bills must fit within this number. The Constitution requires us to pass a balanced budget and to do so we must work out our differences within the limits of this number and the total of all the appropriation bills must not exceed it. I encourage Legislators to spend the weekend considering the best apportionment of these funds."

[verbatim] "I am pleased that the House of Representatives and the Senate have worked hard to enact legislation which has determined how much money is available for next year's spending bills. Therefore, I am expanding the special session call to include the final step of the Fiscal Year 2006 budget process, the appropriation bills, for the Legislature's consideration when they return to Jackson on Monday.

The House and the Senate have either acted, or expressed their intent to act, on each of the items in the special session call required to establish how much money is available for the FY 06 budget. In addition, the House and Senate have agreed on the funding of the FY 05 deficits, and how to use the one-time funds available from the MCI settlement.

Although a procedural action in the House has prevented the Senate from considering the gaming tax diversion issue, I have consulted with the Senate leadership and the Chairman of the Senate Transportation Committee, and I am confident that Monday the Senate will pass a restoration to the General Fund of $22 million in FY 06 of the current gaming tax diversion.

The House and the Senate have determined there will be $4,585,559,267 available to spend including:

Anticipated Carryover from FY 05 $79,663,096
98% of the FY 06 General Fund Revenue $3,834,936,000
Education Enhancement Funds $320,596,124
Health Care Expendable Funds $186,000,000
2% Set-Aside $78,264,000
Delaying the Sales Tax Diversion $30,000,000
Oil & Gas Severance Tax $34,100,047
Gaming Tax Return to General Fund $22,000,000
Total $4,585,559,267

I applaud the actions of the Legislature in the special session as to the budget, and I look forward to a quick passage of a structurally balanced, honest budget with no tax or fee increases.

It is important that every Legislator know the amount available to spend is $4,585,559,267 and that all appropriation bills must fit within this number. The Constitution requires us to pass a balanced budget and to do so we must work out our differences within the limits of this number and the total of all the appropriation bills must not exceed it. I encourage Legislators to spend the weekend considering the best apportionment of these funds."

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