Sec. 1.5. This section applies only in calendar year 2022. Notwithstanding any other law, if, after the calculation required by section 1(d) of this chapter, the budget agency certifies that the state’s combined reserve balance as calculated in section 1(d) of this chapter exceeds two billion five hundred million dollars ($2,500,000,000), the budget agency, after budget committee review, shall transfer the amount of combined state reserves that exceed two billion five hundred million dollars ($2,500,000,000) to the pre-1996 account (as defined in IC 5-10.2-1-5.5) for the purposes of the pre-1996 account. However, the amount transferred under this section may not exceed two billion five hundred million dollars ($2,500,000,000).

As added by P.L.165-2021, SEC.39. Amended by P.L.138-2022, SEC.1.