H. R. 4850—25
(1) Subsection (a) is amended as follows:
(A) Paragraph (1) is amended to read as follows:
‘‘(1) IN GENERAL.—There is established an emergency cash
reserve fund (‘emergency reserve fund’) as an interest-bearing
account (separate from other accounts in the General Fund)
into which the Mayor shall make a deposit in cash not later
than October 1 of each fiscal year of such an amount as may
be required to maintain a balance in the fund of at least
2 percent of the operating expenditures as defined in paragraph
(2) of this subsection or such amount as may be required
for deposit in a fiscal year in which the District is replenishing
the emergency reserve fund pursuant to subsection (a)(7).’’.
(B) Paragraph (2) is amended to read as follows:
‘‘(2) IN GENERAL.—For the purpose of this subsection, oper-
ating expenditures is defined as the amount reported in the
District of Columbia’s Comprehensive Annual Financial Report
for the fiscal year immediately preceding the current fiscal
year as the actual operating expenditure from local funds,
less such amounts that are attributed to debt service payments
for which a separate reserve fund is already established under
this Act.’’.
(C) Paragraph (7) is amended to read as follows:
‘‘(7) REPLENISHMENT.—The District of Columbia shall
appropriate sufficient funds each fiscal year in the budget
process to replenish any amounts allocated from the emergency
reserve fund during the preceding fiscal years so that not
less than 50 percent of any amount allocated in the preceding
fiscal year or the amount necessary to restore the emergency
reserve fund to the 2 percent required balance, whichever is
less, is replenished by the end of the first fiscal year following
each such allocation and 100 percent of the amount allocated
or the amount necessary to restore the emergency reserve fund
to the 2 percent required balance, whichever is less, is replen-
ished by the end of the second fiscal year following each such
allocation.’’.
(2) Subsection (b) is amended as follows:
(A) Paragraph (1) is amended to read as follows:
‘‘(1) IN GENERAL.—There is established a contingency cash
reserve fund (‘contingency reserve fund’) as an interest-bearing
account, separate from other accounts in the General Fund,
into which the Mayor shall make a deposit in cash not later
than October 1 of each fiscal year of such amount as may
be required to maintain a balance in the fund of at least
4 percent of the operating expenditures as defined in paragraph
(2) of this subsection or such amount as may be required
for deposit in a fiscal year in which the District is replenishing
the emergency reserve fund pursuant to subsection (b)(6).’’.
(B) Paragraph (2) is amended to read as follows:
‘‘(2) IN GENERAL.—For the purpose of this subsection, oper-
ating expenditures is defined as the amount reported in the
District of Columbia’s Comprehensive Annual Financial Report
for the fiscal year immediately preceding the current fiscal
year as the actual operating expenditure from local funds,
less such amounts that are attributed to debt service payments
for which a separate reserve fund is already established under
this Act.’’.
(C) Paragraph (6) is amended to read as follows:
H. R. 4850—26
‘‘(6) REPLENISHMENT.—The District of Columbia shall
appropriate sufficient funds each fiscal year in the budget
process to replenish any amounts allocated from the contin-
gency reserve fund during the preceding fiscal years so that
not less than 50 percent of any amount allocated in the pre-
ceding fiscal year or the amount necessary to restore the contin-
gency reserve fund to the 4 percent required balance, whichever
is less, is replenished by the end of the first fiscal year following
each such allocation and 100 percent of the amount allocated
or the amount necessary to restore the contingency reserve
fund to the 4 percent required balance, whichever is less, is
replenished by the end of the second fiscal year following each
such allocation.’’.
SEC. 333. For fiscal year 2005, the Chief Financial Officer
shall re-calculate the emergency and contingency cash reserve funds
amount established by section 450A of the District of Columbia
Home Rule Act, approved December 24, 1973 (87 Stat. 803; D.C.
Official Code, sec. 1–204.50a), as amended by this Act and is author-
ized to transfer funds between the emergency and contingency
cash reserve funds to reach the required percentages: Provided,
That for fiscal year 2005, the Chief Financial Officer may transfer
funds from the emergency and contingency cash reserve funds to
the general fund of the District of Columbia to the extent that
such funds are not necessary to meet the requirements established
for each fund: Provided further, That the Chief Financial Officer
may not transfer funds from the emergency or the contingency
reserve funds to the extent that such a transfer would lower the
fiscal year 2005 total percentage below 7 percent of operating
expenditures, as amended by this Act.
SEC. 334. (a) Section 6 of the Policemen and Firemen’s Retire-
ment and Disability Act Amendments of 1957 (sec. 5–732, D.C.
Official Code) is amended by striking the period at the end of
the first sentence and inserting the following: ‘‘, and for the adminis-
trative costs associated with making such benefit payments.’’.
(b) The amendment made by subsection (a) shall apply with
respect to fiscal year 2005 and each succeeding fiscal year.
SEC. 335. (a) CONTINUING
AVAILABILITY
OF
AMOUNTS
IN
CHARTER SCHOOL FUND.—Section 2403(b)(1) of the District of
Columbia School Reform Act of 1995 (sec. 38–1804.03(b)(1), D.C.
Official Code) is amended by adding at the end the following new
sentence: ‘‘Amounts in the Charter School Fund shall remain avail-
able until expended, and any amounts in the Fund remaining
unobligated or unexpended at the end of a fiscal year shall not
revert to the General Fund of the District of Columbia.’’.
(b) AVAILABILITY OF ADDITIONAL LOCAL FUNDS FOR CHARTER
SCHOOL
FUND.—Section 2403(b)(2)(A) of such Act (sec. 38–
1804.03(b)(2)(A), D.C. Official Code) is amended by inserting after
‘‘District of Columbia,’’ the following: ‘‘together with any other local
funds that the Chief Financial Officer of the District of Columbia
certifies are necessary to carry out the purposes of the Fund during
the fiscal year,’’.
(c) EFFECTIVE DATE.—The amendments made by this section
shall apply with respect to fiscal year 2005 and each succeeding
fiscal year.
SEC. 336. (a) CONTINUATION OF CERTAIN AUTHORITY OF CHIEF
FINANCIAL OFFICER.—Section 2302 of the Emergency Wartime
Supplemental Appropriations Act, 2003 (Public Law 108–11; 117