Sec. 1. (a) Subject to subsection (b), the salary of the governor is ninety-five thousand dollars ($95,000) per year.

(b) Beginning January 12, 2009, and on the second Monday of January of each succeeding fourth year, the salary of the governor is increased after any four (4) year period during which the general assembly does not amend this section to increase the governor's salary.

(c) The percentage by which salaries are increased under this section is equal to the statewide average percentage, as determined by the budget director, by which the salaries of state employees in the executive branch who are in the same or a similar salary bracket exceed, on January 1 of the current state fiscal year, the salaries of executive branch state employees in the same or a similar salary bracket that were in effect on January 1 of the state fiscal year four (4) years before the current state fiscal year.

(d) The amount of a salary increase under this section is equal to the amount determined by applying the percentage increase for the particular year to the governor's salary, as previously adjusted under this section, that was in effect on January 1 of the state fiscal year four (4) years before the current state fiscal year.

(e) The governor is not entitled to receive a salary increase under this section if state employees described in subsection (c) have not received a statewide average salary increase during the previous four (4) state fiscal years.

(f) If a salary increase is required under this section, an amount sufficient to pay for the salary increase is appropriated from the state general fund.

Formerly: Acts 1951, c.216, s.1; Acts 1961, c.128, s.1; Acts 1967, c.182, s.1; Acts 1971, P.L.19, SEC.1. As amended by Acts 1978, P.L.11, SEC.1; P.L.4-1983, SEC.10; P.L.2-1984, SEC.2; P.L.378-1987(ss), SEC.1; P.L.122-1998, SEC.1; P.L.14-2004, SEC.178; P.L.43-2007, SEC.10.