2006 Kentucky Revised Statutes - .600   Allotment reduction and revision in case of deficit.

48.600 Allotment reduction and revision in case of deficit. (1) In the event of an actual or projected deficit, as determined by the Office of State Budget Director, in total tax receipts, as specified in KRS 48.130, of five percent (5%) or less, the Governor, the Chief Justice, and the Legislative Research Commission shall make any allotment reductions for the budget units of their respective branches of government that are deemed necessary and shall take any steps to revise allotments for their respective branches that are necessary to prevent a cash deficit. (2) No budget revision action shall be taken by any branch head in excess of the actual or projected deficit. (3) Allotment revisions shall be reported to the standing Appropriations and Revenue Committees of each house or to the Interim Joint Committee on Appropriations and Revenue, as appropriate. Effective: July 14, 2000 History: Amended 2000 Ky. Acts ch. 46, sec. 19, effective July 14, 2000. -- Amended 1994 Ky. Acts ch. 387, sec. 4, effective July 15, 1994. -- Amended 1988 Ky. Acts ch. 273, sec. 7, effective July 15, 1988. -- Created 1982 Ky. Acts ch. 450, sec. 25, effective July 1, 1983. 2006-2008 Budget Reference. See State/Executive Branch Budget, 2006 Ky. Acts ch. 252, Pt. VI, at 1409; and State/Executive Branch Budget Memorandum, 2006 Ky. Acts ch. 257, at 1625 (Final Budget Memorandum, at 78). 2004-2006 Budget Reference. See State/Executive Branch Budget, 2005 Ky. Acts ch. 173, pt. VI, (5), at 3158; and State/Executive Branch Budget Memorandum, 2005 Ky. Acts ch. 170, at 1643 (Final Budget Memorandum, at 66). 2004-2006 Budget Reference. See State/Executive Branch Budget, 2005 Ky. Acts ch. 173, pt. I, K.6.(3), at 3090; and State/Executive Branch Budget Memorandum, 2005 Ky. Acts ch. 170, at 2633 (Final Budget Memorandum, at 952). 2004-2006 Budget Reference. See State/Executive Branch Budget, 2005 Ky. Acts ch. 173, pt. I, K.8.(5), at 3090; and State/Executive Branch Budget Memorandum, 2005 Ky. Acts ch. 170, at 2651 (Final Budget Memorandum, at 967).