Public Finance

State Funds

SECTION 35-4-12

§ 35-4-12. Federal reduction relief fund – Creation.

(a) There is hereby created a federal reduction relief fund in order to maintain essential state services that would otherwise be diminished or eliminated by reductions in federal funding for these services for any federal fiscal year.

(b) The federal reduction relief fund shall be used for the purposes set forth in §§ 35-4-13 – 35-4-13.4.

(c) In the event that at the close of a fiscal year the balance in the fund is less than ten thousand dollars ($10,000), the balance shall lapse to general fund surplus and shall be made available for future appropriation by the general assembly.

History of Section.
(P.L. 1985, ch. 181, art. 36, § 1; P.L. 1987, ch. 118, art. 17, § 1; P.L. 1988, ch. 579, § 2; P.L. 1989, ch. 126, art. 23, § 1.)