Cc158
REPORT OF CONFERENCE COMMITTEE
MR. PRESIDENT:
MR. SPEAKER:
The Conference Committee respectfully reports that it has considered SB 158 and the amendments
thereto made by the House, and the disagreement of the two houses thereon, and recommends that
SB 158 be amended as follows:
158fe
On page 2 of the House State Affairs Committee engrossed bill, delete line 24, and insert:
"
(1) If the combined cash balance is less than ten percent of the general fund appropriations
from the general appropriations act for the prior year, an amount of unobligated cash shall
be transferred to the budget reserve fund, so that the combined cash balance equals ten
percent of the general appropriations from the general appropriations act for the prior
year;
(2) If the combined cash balance is equal to or greater than ten percent of the general fund
appropriations from the general appropriations act for the prior year, or there is additional
unobligated cash after the provisions in subdivision (1) are satisfied, an amount of
unobligated cash shall be transferred to the building South Dakota fund, so that the
collective BSDF cash balance does not exceed one percent of the general fund
appropriations in the general appropriations act for the previous fiscal year; and
(3) If the collective BSDF cash balance exceeds one percent of the general fund
appropriations in the general appropriations act for the previous year, or if there is
additional unobligated cash remaining after the transfers in subdivisions (1) and (2), the
remaining unobligated cash shall be transferred to the budget reserve fund and property
tax reduction fund pursuant to the provisions of §§ 4-7-32 and 4-7-39.
Section 3. That chapter 4-7 be amended by adding thereto a NEW SECTION to read as follows:
If the collective BSDF cash balance is less than one half percent of the general fund
appropriations in the general appropriations act for the previous fiscal year, the commissioner shall
transfer an amount of money from the property tax reduction fund to the building South Dakota fund
so that the total of the amount deposited pursuant to this section and section 2 of this Act does not
exceed one half percent of the general fund appropriations in the general appropriations act for the
previous fiscal year. However, the combined cash balance may not be reduced to less than ten
percent of the general fund appropriations from the general appropriations act for the prior year by
any transfer made to the building South Dakota fund pursuant to this section.
Section 4. That chapter 4-7 be amended by adding thereto a NEW SECTION to read as follows:
Terms used in sections 2 and 3 of this Act mean:
(1) "Collective BSDF cash balance," the total cash balance of the:
(a) Building South Dakota fund;
(b) Local infrastructure improvement grant fund;
(c) Economic development partnership fund;
(d) Workforce education fund;
(e) South Dakota housing opportunity fund; and
(f) Funds disbursed pursuant to the provisions of subdivision 1-16G-48(5);
(2) "Combined cash balance," the total cash balance of the:
(a) Budget reserve fund at the end of the prior fiscal year; and
(b) Property tax reduction fund at the end of the prior fiscal year.".
On page 3, delete lines 1 to 24, inclusive.
On page 4, delete lines 1 to 11, inclusive.
Respectfully submitted, Respectfully submitted,
____________________________ ____________________________
David Lust Timothy Rave
House Committee Chair Senate Committee Chair