(a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the “Information Technology Reserve Fund”.
(b) The Information Technology Reserve Fund shall consist of:(1) Those funds transferred from the Office of State Technology Revolving Fund in an amount up to the authorized reserve for equipment acquisition as certified by the Chief Fiscal Officer of the State within thirty (30) days following the closing of each fiscal year;(2) Any loans that may be received from the Budget Stabilization Trust Fund; and(3) Any other moneys that may be provided by law.
(1) Those funds transferred from the Office of State Technology Revolving Fund in an amount up to the authorized reserve for equipment acquisition as certified by the Chief Fiscal Officer of the State within thirty (30) days following the closing of each fiscal year;
(2) Any loans that may be received from the Budget Stabilization Trust Fund; and
(3) Any other moneys that may be provided by law.
(c) The Information Technology Reserve Fund shall be used exclusively for major equipment acquisitions or improvements as provided in § 25-4-122.