§ 4-10-18-8 — Excess funds; appropriations to state general fund

(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 state comptroller 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; P.L.9-2024, SEC.71.