Sec. L-1. Legislature; lapsed balances. Notwithstanding any other provision of law, $1,585,008 of unencumbered balance forward from the various program accounts and line categories in the legislative accounts, as specified by the Executive Director of the Legislative Council, lapses to the General Fund in fiscal year 2008-09. The executive director shall review the legislative accounts and identify to the State Controller and State Budget Officer by May 15, 2009 the unencumbered balance forward amounts by account and line category totaling $1,585,008 that will lapse to the General Fund to achieve targeted savings for fiscal year 2008-09.