SR493: SR493 Children First Trust Fund; creation; authorize General Assembly - CA

25 LC 55 0640 Senate Resolution 493 By: Senators Mallow of the 2nd, Halpern of the 39th, Esteves of the 35th, Jackson of the 41st, Jones II of the 22nd 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 a 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 the creation of a Children14 First Trust Fund for the purpose of providing, in accordance wi th the provisions of this15 subparagraph, financial assistance for child care services in this state. Upon the creation16 of such Children First Trust Fund, the General Assembly shall m ake a one-time17 S. R. 493 - 1 - 25 LC 55 0640 appropriation in the amount of $2 billion into such fund, which shall be appropriated from18 the Revenue Shortfall Reserve. The General Assembly shall be a uthorized, but not19 required, to appropriate additional amounts into such fund. All moneys appropriated into20 the Children First Trust Fund shall not be subject to the provisions of Article III, Section21 IX, Paragraph IV(c), relating to the lapsing of funds, and shal l be used to provide22 scholarships, grants, or other forms of financial assistance fo r child care services in this23 state; provided, however, that a portion of the moneys appropriated to the Children First24 Trust Fund shall be invested and reinvested in a manner as prov ided by law. Moneys25 received from returns on such investments and reinvestments sha ll be deposited into the26 Children First Trust Fund and shall be used to provide scholarships, grants, or other forms27 of financial assistance for child care services in this state. The General Assembly shall be28 authorized to provide by law for any matters relating to the purpose or provisions of this29 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 ( ) NO36 37 38 Shall the Constitution of Georgia be amended so as to authorize the General Assembly to use a portion of the state's historic, multi-year revenue surplus to create a self-sustaining Children First Trust Fund for the p urpose 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 S. R. 493 - 2 -