ETF Rolling Reserve Act Summary

Educational Opportunities Reserve Fund ▪May be withdrawn through a supplemental appropriation bill ■ Allowable one-time uses: ■ To offset a reduction in revenues to the ETF that could negatively impact funding for budgeted obligations from the ETF for the current fiscal year ■ To provide funding for unanticipated obligations ■ To sustain required programmatic increases for existing ETF obligations in the event of a change in economic conditions To maintain prior year appropriation levels, if the computation of the fiscal year appropriation cap or secondary spending limit is less than prior year base ETF appropriations ■ For start-up or transitional support for initiatives that provide access to enhanced educational opportunities to all public K-12 or higher education students in the state, or both ■Initial balance of $353,975,000 (from Act 2023-378) 33

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