(a) Except as provided in subsection (b), if the balance, at the end of a state fiscal year, in the fund exceeds seven percent (7%) of the total state general fund revenues for that state fiscal year, the excess is appropriated from the fund to the state general fund. The state comptroller and the treasurer of state shall transfer the amount so appropriated from the fund to the state general fund during the immediately following state fiscal year.(b) If an appropriation is made out of the fund under section 4 of this chapter for a state fiscal year during which a transfer is to be made from the fund to the state general fund, the amount of the appropriation made under subsection (a) shall be reduced by the amount of the appropriation made under section 4 of this chapter. However, the amount of the appropriation made under subsection (a) may not be reduced to less than zero (0).As added by Acts 1982, P.L.22, SEC.1. Amended by P.L.146-2008, SEC.9; P.L.9-2024, SEC.71.
Indiana Legal Code