Appropriations made by the Legislature for the fiscal year beginning July 1, 1947 and thereafter, shall not be available for contractual or expenditure purposes until allotted as provided in this act. Appropriations made by the Legislature to each state department, board, commission, institution or agency, are hereby declared to be maximum, conditional and proportionate appropriations, the purpose being to make appropriations payable in full in the amounts named only in the event that the estimated budget resources within each state fund during each fiscal year are sufficient to pay all of the appropriations for such fiscal year in full. The purpose of this provision is to insure that there shall be no overdraft or deficit in the several funds of the state at the end of any fiscal year, and the Budget Director is directed and required so to administer this act to prevent such overdraft or deficit.

Added by Laws 1947, SB 36, p. 371, § 6, emerg. eff. February 25, 1947.