§ 17-25-29 - Appropriations.
SECTION 17-25-29
§ 17-25-29 Appropriations. – In the event the funds generated by the tax credit of § 44-30-2(d) fail toproduce sufficient money to meet the requirements of the public financing ofthe electoral system as set forth in §§ 17-25-19 – 17-25-27,then funds sufficient to meet the levels of the public financing as set forthin this chapter shall be supplied from the general fund of the state treasury.There is appropriated from the general treasury those sums that may benecessary for carrying out the purposes of the public financing of theelectoral system, and an amount equal to the total of all maximum amounts ofmatching public funds available to all party and independent candidates forgeneral office qualifying and electing to receive public funds in an electionshall be transferred to the board of elections no later than September 1 ofeach election year and deposited in a manner that will secure the highest rateof interest available consistent with the safety of the sums and with therequirement that all sums on deposit be available for immediate payment toeligible candidates at any time after the date of the primary election. Thestate controller is authorized and directed to draw his or her orders upon thegeneral treasurer for transfer of all sums the board deems necessary to complywith this section. There shall also be transferred to the board any additionalsums that may be required until the permitted limits are reached. The boardshall account for all funds disbursed pursuant to this chapter and transferupon the conclusion of any election for general office any and all undisbursedsums to the general treasurer for deposit in the general fund by December 1 inany year in which the election is held.