(a) If the annual growth rate for the current reporting period exceeds two percent (2%), there is appropriated to the fund from the state general fund, for the state fiscal year beginning in the current calendar year, an amount equal to the product of:(1) the total state general fund revenues for the state fiscal year ending in the current calendar year; multiplied by(2) the remainder of:(A) the annual growth rate for the current reporting period; minus(B) two percent (2%).(b) If the annual growth rate for the current reporting period is less than a negative two percent (-2%), there is appropriated from the fund to the state general fund, for the state fiscal year beginning in the current calendar year, an amount equal to the amount determined in STEP TWO of the following formula:STEP ONE: Determine the product of:(A) the total state general fund revenues for the state fiscal year ending in the current calendar year; multiplied by(B) negative one (-1).STEP TWO: Determine the product of:(A) the STEP ONE result; multiplied by(B) the remainder of:(i) the annual growth rate for the current reporting period; minus(ii) negative two percent (-2%).As added by Acts 1982, P.L.22, product of:(A) the STEP ONE result; multiplied by(B) the remainder of:(i) the annual growth rate for the current reporting period; minus(ii) negative two percent (-2%).As added by Acts 1982, P.L.22, SEC.1. Amended by P.L.205-2013, SEC.58.
Indiana Legal Code