Sec. 4. (a) If the annual growth rate for the current reporting period exceeds two percent (2%), there is appropriated to the fund from the state general fund, for the state fiscal year beginning in the current calendar year, an amount equal to the product of:
(1) the total state general fund revenues for the state fiscal year ending in the current calendar year; multiplied by
(2) the remainder of:
(A) the annual growth rate for the current reporting period; minus
(B) two percent (2%).
(b) If the annual growth rate for the current reporting period is less than a negative two percent (-2%), there is appropriated from the fund to the state general fund, for the state fiscal year beginning in the current calendar year, an amount equal to the amount determined in STEP TWO of the following formula:
STEP ONE: Determine the product of:
(A) the total state general fund revenues for the state fiscal year ending in the current calendar year; multiplied by
(B) negative one (-1).
STEP TWO: Determine the product of:
(A) the STEP ONE result; multiplied by
(B) the remainder of:
(i) the annual growth rate for the current reporting period; minus
(ii) negative two percent (-2%).
As added by Acts 1982, P.L.22, SEC.1. Amended by P.L.205-2013, SEC.58.
Structure Indiana Code
Title 4. State Offices and Administration
Article 10. State Funds Generally
Chapter 18. The Counter-Cyclical Revenue and Economic Stabilization Fund
4-10-18-2. Establishment; Administration by State Treasurer
4-10-18-3. Determination of Adjusted Personal Income and Annual Growth Rate
4-10-18-4. Annual Appropriation to and From General Fund; Determination of Amount
4-10-18-5. Annual Appropriation to and From General Fund; Certification of Amount; Transfer of Funds
4-10-18-6. Budget Reports; Statements of Actual or Estimated Transfers
4-10-18-7. Transfers; Adjustment
4-10-18-8. Excess Funds; Appropriations to State General Fund
4-10-18-9. General Fund Revenues; Shortfall; Transfers
4-10-18-10. Loan of Money From Fund; Application; Terms; Repayment; Eligible Entities
4-10-18-10-b. Loan of Money From Fund; Application; Terms; Repayment; Eligible Entities
4-10-18-11. Limitations on Loans
4-10-18-12. Appropriation to Underground Petroleum Storage Tank Excess Liability Trust Fund