Sec. 8. (a) Except as provided in subsection (b), if the balance, at the end of a state fiscal year, in the fund exceeds seven percent (7%) of the total state general fund revenues for that state fiscal year, the excess is appropriated from the fund to the state general fund. The auditor of state and the treasurer of state shall transfer the amount so appropriated from the fund to the state general fund during the immediately following state fiscal year.
(b) If an appropriation is made out of the fund under section 4 of this chapter for a state fiscal year during which a transfer is to be made from the fund to the state general fund, the amount of the appropriation made under subsection (a) shall be reduced by the amount of the appropriation made under section 4 of this chapter. However, the amount of the appropriation made under subsection (a) may not be reduced to less than zero (0).
As added by Acts 1982, P.L.22, SEC.1. Amended by P.L.146-2008, SEC.9.
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