South Dakota § 4-7-53 Combined balance--Budget reserve fund and general revenue replacement fund--Minimum balance required--Transfer of general fund moneys.

South Dakota Statutes

§ 4-7-53 — Combined balance--Budget reserve fund and general revenue replacement fund--Minimum balance required--Transfer of general fund moneys.

South Dakota·Title 4 PUBLIC FISCAL ADMINISTRATION·Ch. 4-6 PREPARATION AND ADOPTION OF STATE BUDGET

If in any fiscal year the combined balance of the budget reserve fund, established in § 4-7-31 , and the general revenue replacement fund, established in § 4-7-45 , is less than ten percent of the general fund appropriations in the general appropriations act for the succeeding fiscal year, the Legislature, by law, must transfer one-third of the amount below such level over the next three fiscal years from the general fund to the budget reserve fund until the combined balance is ten percent of the general fund appropriations in the general appropriations act for the succeeding fiscal year.

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If in any fiscal year the combined balance of the budget reserve fund, established in § 4-7-31 , and the general revenue replacement fund, established in § 4-7-45 , is less than ten percent of the general fund appropriations in the general appropriations act for the succeeding fiscal year, the Legislature, by law, must transfer one-third of the amount below such level over the next three fiscal years from the general fund to the budget reserve fund until the combined balance is ten percent of the general fund appropriations in the general appropriations act for the succeeding fiscal year.

South Dakota § 4-7-53 (Combined balance--Budget reserve fund and general revenue replacement fund--Minimum balance required--Transfer of general fund moneys.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.