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:

    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:

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            (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