SCS/HCS/HB 1903 - This act creates the Federal Budget Stabilization Extension Fund to receive moneys from any federal legislation enacted by the 111th United States Congress intended to assist states in budget stabilization or that contains a provision that extends the temporary increase in the Medicaid Federal Medical Assistance Percentage (FMAP). This act creates the Race to the Top Fund, in which all funds received from the federal government through the Race to the Top Program will be deposited. Prior to the distribution of any such funds, the Commissioner of Education must appear before the Joint Committee on Education and present the proposed distribution of funds. The Joint Committee must approve or deny, by majority vote, the Commissioner's proposed distribution. This provision is identical to SB 976 (2010).
The act contains an emergency clause.
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