Sec. 4. (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, SEC.1. Amended by P.L.205-2013, SEC.58.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
