South Dakota Codified Laws 32-11-32. Transfer from motor vehicle fund to local government highway and bridgefund–Balance maintained in motor vehicle fund
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The total of the collections coming into the state motor vehicle fund during the preceding fiscal year, less the amount to cover the corresponding expenses, shall be transferred on or about August first of each year to the local government highway and bridge fund except that a balance be maintained to provide cash flow in the state motor vehicle fund.
Terms Used In South Dakota Codified Laws 32-11-32
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
Source: SL 1953, ch 250, § 3; SDC Supp 1960, § 44.0217; SL 1965, ch 190; SL 1983, ch 238, § 3; SL 1985, ch 252, § 6.