§ 4-10-21-5 — Prohibition on spending exceeding state spending cap

Indiana § 4-10-21-5

• Jurisdiction: Indiana
• Art. 10: STATE FUNDS GENERALLY
• Ch. 21: Business Cycle State Spending Controls

Text

(a) The maximum total amount that may be
expended in a state fiscal year from the state general fund and the
counter-cyclical revenue and economic stabilization fund is the least of
the following:
(1) Subject to sections 6 and 7 of this chapter, the state spending
cap for the state fiscal year.
(2) The amount appropriated by the general assembly from the
state general fund and the counter-cyclical revenue and economic
stabilization fund.
(3) The amount of money available in the state general fund and
the counter-cyclical revenue and economic stabilization fund to
pay expenditures.
(b) Subject to sections 6 and 7 of this chapter, if the state spending
cap for the state fiscal year is less than the amount appropriated by the
general assembly in the state fiscal year from the state general fund and
the counter-cyclical revenue and economic stabilization fund, the
budget agency shall reduce the amounts available for expenditure from
the state general fund and the counter-cyclical revenue and economic
stabilization fund in the state fiscal year by using the procedures in IC 4-13-2-18.

Legislative History

As added by P.L.192-2002(ss), SEC.4. Amended by P.L.146-2008, SEC.11.