17-1-406. Reduction of volatile revenue transfer -- report.
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17-1-406 . Reduction of volatile revenue transfer -- report. If the budget director estimates a projected general fund ending fund balance at the end of the biennium that is less than the operating reserve as defined in 17-7-102 , the budget director shall inform the legislative finance committee and the legislative fiscal analyst in writing of the financial forecast and recommended actions by September 15 if a reduction is considered for the November 1 transfer or March 15, if a reduction is considered for the May transfer.
The legislative finance committee may meet and comment within 30 days of receiving the forecast and recommendations. Then the governor may reduce the transfer of volatile revenue to the Montana growth and opportunity trust established in 17-1-401 by up to 50% of the volatile revenue transfer amount.