THE House of Representatives is ready to act on the $121.6 million revised fiscal year 2023 budget that would no longer include American Rescue Plan Act funds.
The draft budget measure completed on Tuesday will be introduced by House Ways and Means Committee Chairman Ralph N. Yumul on Friday.
The original FY 2023 appropriation measure or Public Law 22-22 identifies $150 million in projected resources while the revised budget projects $164.1 million in resources, plus the projected revenue of $5.4 million from the Department of Public Lands.
Less $48 million in earmarks and “transfers out,” the net revenue that would be available for government appropriation is $121.6 million.
The revised budget, which proposes to cut executive branch work hours to 72, also includes a provision that protects the funds appropriated for the judicial branch.
Moreover, it allots $13.5 million in Community Disaster Loan funds for the payment of the retirees’ 25% benefit.
In addition, the proposed budget revision will give the governor up to 50% reprogramming authority for executive branch funds; and require expenditure authorities to submit a detailed financial report to the legislature’s presiding officers within 30 days after the end of each month beginning March 31, 2023.
Speaker Edmund S. Villagomez said on Monday that he will call for a session for either Friday afternoon or Saturday morning.
Ralph N. Yumul
