This text of North Dakota § 54-27.2-03 (Transfers and expenditures from budget stabilization fund) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
1.The governor may order transfers from the budget stabilization fund to the general
fund as follows:
a.After general fund allotments totaling at least three percent have been made
during the biennium under section 54-44.1-12, the governor may order a transfer
up to an amount equal to three percent of general fund appropriations.
b.If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision a and an additional general fund allotment of at least one
percent is made under section 54-44.1-12, the governor may order a transfer up
to an amount equal to two percent of general fund appropriations.
c.If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision b and an additional general fund allotment of
Free access — add to your briefcase to read the full text and ask questions with AI
1. The governor may order transfers from the budget stabilization fund to the general
fund as follows:
a. After general fund allotments totaling at least three percent have been made
during the biennium under section 54-44.1-12, the governor may order a transfer
up to an amount equal to three percent of general fund appropriations.
b. If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision a and an additional general fund allotment of at least one
percent is made under section 54-44.1-12, the governor may order a transfer up
to an amount equal to two percent of general fund appropriations.
c. If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision b and an additional general fund allotment of at least one
percent is made under section 54-44.1-12, the governor may order a transfer up
to an amount equal to three percent of general fund appropriations.
d. If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision c and an additional general fund allotment of at least one
percent is made under section 54-44.1-12, the governor may transfer any
remaining funds in the budget stabilization fund to the general fund.
e. The amount of a transfer made under any subdivision of this subsection may not
exceed the difference between the general fund revenue projections for the
biennium of the most recently adjourned special or regular session of the
legislative assembly and the revised general fund revenue projections for the
biennium, less the amounts of any allotments ordered under section 54-44.1-12
during the biennium, as determined by the director of the office of management
and budget. For purposes of this subsection, "general fund revenue projections
for the biennium" includes the general fund balance at the beginning of the
biennium.
f. For purposes of this subsection, the calculation of total percentage general fund
allotments made under section 54-44.1-12 must be based on total general fund
allotments after any allotment exemption granted by the director of the budget
compared to total general fund appropriations.
2. Any amounts transferred from the budget stabilization fund upon order of the governor
to the state general fund may be expended within the limits of legislative guidelines
and general fund appropriations of the most recently adjourned special or regular
session of the legislative assembly. For purposes of this section, "general fund
appropriations" includes total biennium general fund appropriations approved by the
most recently adjourned special or regular session of the legislative assembly. The
director of the office of management and budget must provide a report to the budget
section of the legislative management when a transfer is made under this section.