Bill > HB1206

This bill revises provisions related to interim transfers and appropriations in South Dakota's state government budgeting process. The bill makes several key changes to existing law, primarily updating terminology and clarifying procedures for budget transfers and contingency funds. Specifically, the bill redefines terms like "agency" and "budget unit", modifies the role of the special legislative committee in overseeing budget transfers, and establishes new rules for transferring appropriations between budget units. Agencies are now allowed to transfer appropriations within a budget unit using the same fund source with written approval from the Bureau of Finance and Management, while transfers between budget units or fund sources require approval from the special committee. The bill also updates provisions related to emergency fund requests, requiring the Governor to provide notice to the special committee and obtain majority vote approval for releasing contingency funds. Additionally, the bill mandates that the Bureau of Finance and Management and Legislative Research Council submit independent revenue projections annually and propose measures if significant budget shortfalls are projected. These changes aim to provide more flexibility and oversight in the state's budgeting process while maintaining fiscal accountability.

Budget and Finance

https://sdlegislature.gov/#/Session/Bill/25994