(1) There is hereby created in the state treasury the economic recovery reserve fund for the purpose of meeting general fund revenue shortfalls, meeting expenses incurred as the result of a major disaster declared by the governor, or for providing one (1) time tax relief payments to the citizens of the state of Idaho. Moneys in the economic recovery reserve fund shall consist of moneys remitted pursuant to section 63-2520 , Idaho Code. Interest earnings from the investment of moneys in this fund by the state treasurer shall be retained in the economic recovery reserve fund. (2) No appropriations from the economic recovery reserve fund nor any transfers out of the fund shall be made without the consent of the legislature by at least a majority of the members of each house concurring therein at an ordinary session or at an extraordinary session of the legislature called by the governor.
‹ Prev All Idaho sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.