114 STAT. 2762A-44 PUBLIC LAW 106-553—APPENDIX A "(6) REPLENISHMENT.—The District of Columbia shall appropriate sufficient funds each fiscal year in the budget process to replenish any amounts allocated from the contingency reserve fund during the preceding fiscal year by the following fiscal year. Once the contingency reserve equals 3 percent of total funds appropriated from local funds for operating expenditures, the District of Columbia shall appropriate sufficient funds each fiscal year in the budget process to replenish any amounts allocated from the contingency reserve fund during the preceding year to maintain a balance of at least 3 percent of total funds appropriated from local funds for operating expenditures by the following fiscal year. "(c) QUARTERLY REPORTS.— The Chief Financial Officer shall submit a quarterly report to the Mayor, the Council, the District of Columbia Financial Responsibility and Management Assistance Authority (in the case of a fiscal year which is a control year, as defined in section 305(4) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995), and the Committees on Appropriations of the Senate and House of Representatives that includes a monthly statement on the balance and activities of the contingency and emergency reserve funds.". (2) CLERICAL AMENDMENT.—The table of contents for the District of Columbia Home Rule Act is amended by inserting after the item relating to section 450 the following new item: "Sec. 450A. Reserve funds.". (b) CONFORMING AMENDMENTS.— (1) CURRENT RESERVE FUND.— Section 202(j) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995 (sec. 47-392.2(j), D.C. Code) is amended— (A) in paragraph (1), by striking "Beginning with fiscal year 2000, the plan or budget submitted pursuant to this Act" and inserting "For each of the fiscal years 2000 through 2004, the budget of the District government for the fiscal year"; and (B) by adding at the end the following new paragraph: "(4) REPLENISHMENT. — Any amount of the reserve funds which is expended in one fiscal year shall be replenished in the reserve funds from the following fiscal year appropriations to maintain the $150,000,000 balance.". (2) POSITIVE FUND BALANCE.— Section 202(k) of such Act (sec. 47-392.2(k), D.C. Code) is repealed. (c) EFFECTIVE DATE.— This section and the amendments made by this section shall take effect on October 1, 2000. TREATMENT OF REVENUE BONDS SECURED BY TOBACCO SETTLEMENT PAYMENTS SEC. 160. (a) PERMITTING COUNCIL TO DELEGATE AUTHORITY To ISSUE BONDS.— (1) IN GENERAL.— Section 490 of the District of Columbia Home Rule Act (sec. 47-334, D.C. Code) is amended— (A) by redesignating subsections (i) through (m) as subsections (j) through (n), respectively; and (B) by inserting after subsection (h) the following new subsection:
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