(a) Except as provided in subsection (b), amounts in the General Fund Budget Reserve Fund may be withdrawn only to prevent proration in the General Fund. The Governor must certify to the state Comptroller and notify the Legislature that proration would occur in the General Fund before funds may be withdrawn to prevent proration. Following the certification and notification by the Governor, withdrawals may be made from the General Fund Budget Reserve Fund to prevent proration; however, the withdrawals shall be limited to the amount of the anticipated proration and funds allotted only to the extent necessary to avoid proration of appropriations from the General Fund. Any funds withdrawn from the General Fund Budget Reserve Fund in excess of the amount necessary to avoid proration shall be transferred back to the General Fund Budget Reserve Fund within 30 days after the end of the fiscal year in which withdrawals are made.
(b) Amounts in the General Fund Budget Reserve Fund may be withdrawn by and through an independent supplemental appropriation bill enacted with a recorded vote of at least two-thirds of the membership of each legislative chamber to provide funding necessary for any of the following:
(1) To offset a reduction in estimated revenues to the General Fund for the current fiscal year.
(2) To fund state employee pay raises or bonuses.
(3) To provide funding for unanticipated obligations.
(c) No funds may be appropriated pursuant to subsection (b) until the balance of the General Fund Budget Reserve Fund at the end of the previous fiscal year equals or exceeds fifty million dollars ($50,000,000).
(d) Amounts appropriated from the General Fund Budget Reserve Fund pursuant to subsection (b) shall be budgeted and allotted in accordance with Sections 41-4-80 through 41-4-96 and Sections 41-19-1 through 41-19-12.
Last modified: May 3, 2021