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The cash award shall be:
Equal to fifteen percent (15%) of the annual savings realized in a fiscal year, with a maximum award of one hundred thousand dollars ($100,000);
Paid within ninety (90) days of the end of each fiscal year in which the savings have been realized; and
Limited to the first fiscal year following the fiscal year in which the suggestion was made.
If the cash award is over fifty thousand dollars ($50,000) the award must be spread over three (3) years following the fiscal year in which the suggestion was made in equal amounts; however, if the employee who is entitled to the award leaves state service the employee forfeits the remaining award appropriation item or items of the state agency to which actual savings apply.
The board shall promulgate rules to develop criteria for making awards pursuant to this section, including, but not limited to, the development and implementation of an electronic mail notification to transmit to all state government employees information on the employee suggestion award program. The electronic mail notification shall be made annually by the board and shall include, but not be limited to, the provisions of this section.
In promulgating rules, the board shall consider the following factors:
Severity of the present problem;
Effectiveness of the suggestion offered;
The need to encourage improvement in state operations; and