For the 2009-10 budget year, each school district and the state charter school institute shall budget a total dollar amount determined by the department of education to a fiscal emergency restricted reserve in the general fund. The amount budgeted by each school district and the state charter school institute shall be released for expenditure by the district or for distribution to institute charter schools by the state charter school institute, as applicable, on January 29, 2010, if a negative supplemental appropriation to effect a recision of the total amount of the restricted reserve as specified in section 22-54-106.5 (3), or any portion thereof, has not been enacted and become law by said date.
Source: L. 2009: Entire section added, (SB 09-256), ch. 294, p. 1560, § 21, effective May 21.