Sec. DDDD-1. Debt Service Funds carried forward. Notwithstanding any other provision of law, $3,672,000 in the Treasurer's General Fund Debt Service Account must be carried forward for the same purpose until June 30, 2006.
Sec. DDDD-2. Debt Service Savings transferred to Budget Stabilization Fund. Notwithstanding any other provision of law, during fiscal years 2005-06 and 2006-07 any balance in the Treasurer's General Fund Debt Service Account pertaining to General Obligation Bonds not required by the State Treasurer to pay the cost of debt service must be immediately transferred by the State Controller to the Budget Stabilization Fund. Each transfer must be made by June 30th of each fiscal year.
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