Changes to Existing Law

On July first of each fiscal year or at such time that the prior fiscal year general fund5 ending unobligated cash balance is determined, the commissioner of the Bureau of Finance and6 Management shall transfer all prior year unobligated cash up to an amount equal to ten percent7 of the general fund appropriations from the general appropriation act for the prior fiscal year as follows: (1)Seventy-five percent of the unobligated cash into the budget reserve fund; and (2)Twenty-five percent of the unobligated cash into the local bridge improvement grant fund created by § 32-11-38. In no event shall the cash balance in the budget reserve fund be greater than ten percent of13 the general fund appropriations from the general appropriation act for the prior fiscal year. Expenditures out of the budget reserve fund shall only be by special appropriation of the15 100 copies were printed on recycled paper by the South DakotaLegislative Research Council at a cost of $.167 per page.v Insertions into existing statutes are indicated by underscores.Deletions from existing statutes are indicated by overstrikes. - 2 -SB Legislature and shall only redress such unforeseen expenditure obligations or such unforeseen1 revenue shortfalls as may constitute an emergency pursuant to S.D. Const., Art. III, § 1.2