§ 21. Transfers from trust fund to general fund in support of education. The Legislature shall transfer from the trust fund to the state general fund four percent of the lesser of the average market value of the trust fund determined by adding the market value of the trust fund at the end of the sixteen most recent calendar quarters as of December thirty-first of that year and dividing that sum by sixteen, or the market value of the trust fund at the end of that calendar year for the support of education in South Dakota. The transfer shall be made prior to June thirtieth of the subsequent calendar year.
History: Section proposed by SL 2000 (SS) ch 1, approved April 10, 2001. Amendment proposed by SL 2010, ch 2, § 3, rejected Nov. 2, 2010. Amendment proposed by SL 2012, ch 266, § 3 approved Nov. 6, 2012.