Bill Text: MS HB547 | 2011 | Regular Session | Introduced
Bill Title: Health Care Trust Fund; repay in 20 annual payments certain funds that were transferred into Health Care Expendable Fund.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2011-02-01 - Died In Committee [HB547 Detail]
Download: Mississippi-2011-HB547-Introduced.html
MISSISSIPPI LEGISLATURE
2011 Regular Session
To: Appropriations
By: Representative Bondurant (By Request)
House Bill 547
AN ACT TO AMEND SECTION 43-13-407, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE LEGISLATURE SHALL REPAY TO THE HEALTH CARE TRUST FUND, IN TWENTY EQUAL ANNUAL INSTALLMENT PAYMENTS BEGINNING ON JULY 1, 2017, CERTAIN FUNDS THAT WERE TRANSFERRED INTO THE HEALTH CARE EXPENDABLE FUND; TO DELETE THE REPEALER ON CERTAIN PROVISIONS OF THIS SECTION; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 43-13-407, Mississippi Code of 1972, is amended as follows:
43-13-407. (1) In accordance with the purposes of this article, there is established in the State Treasury the Health Care Expendable Fund, into which shall be transferred from the Health Care Trust Fund the following sums:
(a) In fiscal year 2005, Four Hundred Fifty-six Million Dollars ($456,000,000.00);
(b) In fiscal year 2006, One Hundred Eighty-six Million Dollars ($186,000,000.00);
(c) In fiscal year 2007, One Hundred Eighty-six Million Dollars ($186,000,000.00);
(d) In fiscal year 2008, One Hundred Six Million Dollars ($106,000,000.00);
(e) In fiscal year 2009, Ninety-two Million Two Hundred Fifty Thousand Dollars ($92,250,000.00);
(f) In the fiscal year beginning after the calendar year in which none of the amount of the annual tobacco settlement installment payment will be deposited into the Health Care Expendable Fund as provided in subsection (3)(d) of this section, and in each fiscal year thereafter, a sum equal to the average annual amount of the dividends, interest and other income, including increases in value of the principal, earned on the funds in the Health Care Trust Fund during the preceding four (4) fiscal years.
(2) In any fiscal year in which interest, dividends and other income from the investment of the funds in the Health Care Trust Fund are not sufficient to fund the full amount of the annual transfer into the Health Care Expendable Fund as required in subsection (1)(f) of this section, the State Treasurer shall transfer from tobacco settlement installment payments an amount that is sufficient to fully fund the amount of the annual transfer.
(3) Beginning with calendar year 2009, at the time that the State of Mississippi receives the tobacco settlement installment payment for each calendar year, the State Treasurer shall deposit the following amounts of each of those installment payments into the Health Care Expendable Fund:
(a) In calendar years 2009 and 2010, the total amount of the installment payment;
(b) In calendar year 2011, the amount of the installment payment less Ten Million Dollars ($10,000,000.00);
(c) In calendar year 2012, the amount of the installment payment less Twenty Million Dollars ($20,000,000.00);
(d) In calendar year 2013, and each calendar year thereafter, the amount of the installment payment to be deposited into the Health Care Expendable Fund shall be reduced by an additional Ten Million Dollars ($10,000,000.00) each calendar year until the calendar year that the amount of the installment payment that otherwise would be deposited into the Health Care Expendable Fund is less than the average annual amount of the dividends, interest and other income, including increases in value of the principal, earned on the funds in the Health Care Trust Fund during the preceding four (4) fiscal years. Beginning with that calendar year and each calendar year thereafter, none of the amount of the installment payment shall be deposited into the Health Care Expendable Fund.
(4) In addition to any other sums required to be transferred from the Health Care Trust Fund to the Health Care Expendable Fund, the sum of One Hundred Twelve Million Dollars ($112,000,000.00) shall be transferred from the Health Care Trust Fund to the Health Care Expendable Fund in fiscal year 2011.
(5) The Legislature shall repay to the Health Care Trust Fund the full amount of the funds that were transferred into the Health Care Expendable Fund under the provisions of paragraphs (a) through (e) of subsection (1) of this section and the provisions of subsection (2) of this section in twenty (20) equal annual installment payments until the total amount that was transferred is repaid in full. The installment payments shall be made on July 1 of each year, beginning on July 1, 2017. No interest shall be due or paid on the funds that are repaid to the Health Care Trust Fund.
(6) If Medicaid expenditures are projected to exceed the amount of funds appropriated to the Division of Medicaid in any fiscal year in excess of the expenditure reductions to providers, funds shall be transferred by the State Fiscal Officer from the Health Care Trust Fund into the Health Care Expendable Fund and then to the Governor's Office, Division of Medicaid, in the amount and at such time as requested by the Governor to reconcile the deficit.
(7) All income from the investment of the funds in the Health Care Expendable Fund shall be credited to the account of the Health Care Expendable Fund. Any funds in the Health Care Expendable Fund at the end of a fiscal year shall not lapse into the State General Fund.
(8) The funds in the Health Care Expendable Fund shall be available for expenditure under specific appropriation by the Legislature beginning in fiscal year 2000, and shall be expended exclusively for health care purposes.
(9) The provisions of subsection (1) of this section may not be changed in any manner except upon amendment to that subsection by a bill enacted by the Legislature with a vote of not less than three-fifths (3/5) of the members of each house present and voting.
* * *
SECTION 2. This act shall take effect and be in force from and after July 1, 2011.
