4-5-29.1 Health care trust fund--Investment officer to calculate amount eligible for distribution--...
Health care trust fund--Investment officer to calculate amount eligible for
distribution--Transfer to state general fund.
Pursuant to S.D. Const., Art. XII, § 5, the state
investment officer shall determine the market value of the health care trust fund as of December 31,
2003, and each calendar year thereafter less the investment expenses transferred pursuant to § 4-5-30. The state investment officer shall calculate an amount equal to four percent of that market value,
without invading principal, as eligible for distribution. For the purpose of this section, the term,
principal, means the sum of all contributions to the fund. Beginning with the distribution in fiscal
year 2008, the market value shall be determined by adding the market value of the trust fund at the
end of the sixteen most recent calendar quarters as of December thirty-first, and dividing the sum
by sixteen. Upon notice of that amount by the state investment officer, the state treasurer shall
transfer the amount from the health care trust fund to the state general fund as soon as practicable
after July first of the next fiscal year.
Source: SL 2002, ch 26, § 3; SL 2004, ch 62, § 1; SL 2006, ch 23, § 1.