HR396: HR396 General Assembly; creation of Georgia's Children First Trust Fund; authorize - CA

25 LC 55 0545 House Resolution 396 By: Representatives Campbell of the 35th, Hugley of the 141st, Miller of the 62nd, Glaize of the 67th, Howard of the 129th, and others A RESOLUTION Proposing an amendment to the Constitution so as to authorize t he General Assembly to1 provide by law for the creation of the Georgia's Children First Trust Fund; to provide for the2 appropriation of moneys into such fund, including a one-time ap propriation from the3 Revenue Shortfall Reserve; to provide that moneys appropriated into such fund shall not4 lapse and shall be used to provide scholarships, grants, or other forms of financial assistance5 for child care services; to provide for the investment and rein vestment of a portion of the6 moneys appropriated into such fund; to provide that returns on such investments shall be7 used for financial assistance for child care services; to provide for related matters; to provide8 for the submission of this amendment for ratification or rejection; and for other purposes.9 BE IT RESOLVED BY THE GENERAL ASSEMBLY OF GEORGIA:10 SECTION 1.11 Article III, Section IX, Paragraph VI of the Constitution is am ended by adding a new12 subparagraph to read as follows:13 "(s) The General Assembly is authorized to provide by law for t he creation of the14 Georgia's Children First Trust Fund for the purpose of providing, in accordance with the15 provisions of this subparagraph, financial assistance for child care services in this state. 16 Upon the creation of the Georgia's Children First Trust Fund, the General Assembly shall17 H. R. 396 - 1 - 25 LC 55 0545 make a one-time appropriation in the amount of $3 billion into such fund, which shall be18 appropriated from the Revenue Shortfall Reserve. The General A ssembly shall be19 authorized, but not required, to appropriate additional amounts into such fund. All moneys20 appropriated into the Georgia's Children First Trust Fund shall not be subject to the21 provisions of Article III, Section IX, Paragraph IV(c), relating to the lapsing of funds, and22 shall be used to provide scholarships, grants, or other forms of financial assistance for child23 care services in this state; provided, however, that a portion of the moneys appropriated to24 the Georgia's Children First Trust Fund shall be invested and r einvested in a manner as25 provided by law. Moneys received from returns on such investme nts and reinvestments26 shall be deposited into the Georgia's Children First Trust Fund and shall be used to provide27 scholarships, grants, or other forms of financial assistance fo r child care services in this28 state. The General Assembly shall be authorized to provide by law for any matters relating29 to the purpose or provisions of this subparagraph."30 SECTION 2.31 The above proposed amendment to the Constitution shall be publi shed and submitted as32 provided in Article X, Section I, Paragraph II of the Constitution. The ballot submitting the33 above proposed amendment shall have written or printed thereon the following:34 "( ) YES35 36 ( ) NO37 38 Shall the Constitution of Georgia be amended so as to authorize the General Assembly to use a portion of the state's historic, multiyear revenue surplus to create a self-sustaining Georgia's Children First Trust Fund f o r t h e purpose of providing access to child care services in this state?" All persons desiring to vote in favor of ratifying the proposed amendment shall vote "Yes." 39 All persons desiring to vote against ratifying the proposed amendment shall vote "No." If40 such amendment shall be ratified as provided in said Paragraph of the Constitution, it shall41 become a part of the Constitution of this state.42 H. R. 396 - 2 -