§ 4-10-18-7 — Transfers; adjustment

Indiana § 4-10-18-7

• Jurisdiction: Indiana
• Art. 10: STATE FUNDS GENERALLY
• Ch. 18: The Counter-Cyclical Revenue and Economic

Text

If:
(1) the bureau revises the state personal income figure it has
previously reported for the twelve (12) month period preceding
the current reporting period; and
(2) the revision is made after the transfer for the state fiscal year
that begins in the current calendar year has initially been
determined under section 5 of this chapter;
then the budget director shall adjust the transfer to reflect any increase
or decrease in the growth rate used in initially determining that transfer.
However, the total adjustments made under this section may not
increase or decrease the initially determined transfer by an amount
which exceeds one percent (1%) of the total general fund revenue used
in determining the transfer. In addition, the last report of state personal
income that the bureau makes before April 30 of the calendar year
immediately following the current calendar year determines the final
adjustment that may be made under this section with respect to that
transfer.
As added by Acts 1982, P.L.22, SEC.1. Amended by
P.L.205-2013, SEC.59.