Indiana § 4-10-22-1 Calculation of state reserves

Indiana Statutes

§ 4-10-22-1 — Calculation of state reserves

Indiana·Art. 10 STATE FUNDS GENERALLY·Ch. 22 Use of Excess Reserves

(a)Subject to subsection (f), after the end of the state fiscal year beginning July 1, 2015, and ending June 30, 2016, and after the end of each odd-numbered state fiscal year thereafter, the office of management and budget shall calculate in the customary manner the total amount of state reserves as of the end of the state fiscal year. The office of management and budget shall make the calculation not later than July 31, 2016, and not later than July 31 of each odd-numbered year thereafter.

(b)The office of management and budget may not consider a balance in the state tuition reserve account established by IC 4-12-1-15.7 when making the calculation required by subsection (a) in 2017 and in an odd-numbered year thereafter.

(c)The office of management and budget shall consider a balance

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(a) Subject to subsection (f), after the end of
the state fiscal year beginning July 1, 2015, and ending June 30, 2016,
and after the end of each odd-numbered state fiscal year thereafter, the
office of management and budget shall calculate in the customary
manner the total amount of state reserves as of the end of the state
fiscal year. The office of management and budget shall make the
calculation not later than July 31, 2016, and not later than July 31 of
each odd-numbered year thereafter.
(b) The office of management and budget may not consider a
balance in the state tuition reserve account established by IC 4-12-1-15.7 when making the calculation required by subsection (a) in
2017 and in an odd-numbered year thereafter.
(c) The office of management and budget shall consider a balance
in the state tuition reserve account established by IC 4-12-1-15.7 when
making the calculation required by subsection (a) in 2016.
(d) This subsection applies in 2022. After the end of the state fiscal
year beginning July 1, 2021, and ending June 30, 2022, the office of
management and budget shall calculate in the customary manner the
total amount of state reserves as of the end of the state fiscal year. In
making the calculation, the office of management and budget shall
include a balance in the state tuition reserve account established by IC 4-12-1-15.7. The office of management and budget shall make the
calculation of the combined reserve balance required by this subsection
not later than July 31, 2022.
(e) This subsection applies in 2024. After the end of the state fiscal
year beginning July 1, 2023, and ending June 30, 2024, the office of
management and budget shall calculate in the customary manner the
total amount of state reserves as of the end of the state fiscal year. In
making the calculation, the office of management and budget shall
include a balance in the state tuition reserve account established by IC 4-12-1-15.7. The office of management and budget shall make the
calculation of the combined reserve balance required by this subsection
not later than July 31, 2024.
(f) This subsection applies in 2025. In making the calculation in
calendar year 2025 under subsection (a), the office of management and
budget shall include a balance in the state tuition reserve account
established by IC 4-12-1-15.7.

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Legislative History

As added by P.L.229-2011, SEC.44. Amended by P.L.160-2012, SEC.2; P.L.205-2013, SEC.60; P.L.213-2015, SEC.40; P.L.146-2016, SEC.1; P.L.165-2021, SEC.38; P.L.201-2023, SEC.63.