# Title 54 — State Government

## Chapter 54-27.2 — Budget Stabilization Fund

### § 54-27.2-01. Budget stabilization fund.

The budget stabilization fund is a special fund in the state treasury. The state investment
board shall supervise investment of the budget stabilization fund in accordance with chapter
21-10. Any interest or other budget stabilization fund earnings must be credited to the fund. Any
amounts provided by law for deposit in the fund and any interest or earnings of the fund which
would bring the balance in the fund at the end of any fiscal year to an amount greater than
fifteen percent of the current biennial state general fund budget, as finally approved by the most
recently adjourned special or regular session of the legislative assembly, may not be deposited
in or credited to the fund but must be deposited instead in the state general fund.
### § 54-27.2-02. Certain general fund revenues to be deposited in the budget stabilization

fund.
Notwithstanding any other provision of law except section 54-27.2-01, any amount in the
state general fund in excess of sixty-five million dollars at the end of any biennium, after
deducting any amounts that would otherwise be transferred to the general fund under section
54-27.2-01, must be transferred by the state treasurer to the budget stabilization fund. For
purposes of this section, "at the end of any biennium" means after cancellation of unexpended
appropriations under section 54-44.1-11.
### § 54-27.2-03. Transfers and expenditures from budget stabilization fund.

1. The governor may order transfers from the budget stabilization fund to the general
fund as follows:
a. After general fund allotments totaling at least three percent have been made
during the biennium under section 54-44.1-12, the governor may order a transfer
up to an amount equal to three percent of general fund appropriations.
b. If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision a and an additional general fund allotment of at least one
percent is made under section 54-44.1-12, the governor may order a transfer up
to an amount equal to two percent of general fund appropriations.
c. If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision b and an additional general fund allotment of at least one
percent is made under section 54-44.1-12, the governor may order a transfer up
to an amount equal to three percent of general fund appropriations.
d. If the maximum transfer from the budget stabilization fund is made to the general
fund under subdivision c and an additional general fund allotment of at least one
percent is made under section 54-44.1-12, the governor may transfer any
remaining funds in the budget stabilization fund to the general fund.
e. The amount of a transfer made under any subdivision of this subsection may not
exceed the difference between the general fund revenue projections for the
biennium of the most recently adjourned special or regular session of the
legislative assembly and the revised general fund revenue projections for the
biennium, less the amounts of any allotments ordered under section 54-44.1-12
during the biennium, as determined by the director of the office of management
and budget. For purposes of this subsection, "general fund revenue projections
for the biennium" includes the general fund balance at the beginning of the
biennium.
f. For purposes of this subsection, the calculation of total percentage general fund
allotments made under section 54-44.1-12 must be based on total general fund
allotments after any allotment exemption granted by the director of the budget
compared to total general fund appropriations.
2. Any amounts transferred from the budget stabilization fund upon order of the governor
to the state general fund may be expended within the limits of legislative guidelines

and general fund appropriations of the most recently adjourned special or regular
session of the legislative assembly. For purposes of this section, "general fund
appropriations" includes total biennium general fund appropriations approved by the
most recently adjourned special or regular session of the legislative assembly. The
director of the office of management and budget must provide a report to the budget
section of the legislative management when a transfer is made under this section.
