; and (II) is subject to safeguards to prevent use of amounts in the funds for nonemergency purposes, such as requiring a resolution approved by a legislative supermajority that an emergency or disaster has occurred before amounts may be appropriated from the fund; and (ii) has enacted a State statute— (I) setting a target for the fund of holding reserves of 5 to 10 percent of annual general revenues; and (II) under which amounts are automatically deposited in the fund in order to meet such target, during any year in which the economy is not in a declared recession. (B) Alternate certification Notwithstanding subparagraph (A), a State has rainy-day fund protections if the State certifies to the Secretary that— (i) the State has protections for the State’s rainy-day fund that are at least as effective as those described under subparagraph (A); and (ii) the State’s rainy-day fund held an amount equal to more than 5 percent of the State’s 2019 annual operating budget in reserve as of January 1, 2020. (6) Secretary The term Secretary means the Secretary of the Treasury. (7) Sound pension funds With respect to a recipient under the Program, the recipient has sound pension funds if— (A) all pension funds of the recipient are based on generally accepted actuarial principles, as defined by the Secretary, taking into account the Actuarial Standards of Practice promulgated by the Actuarial Standards Board; and (B) the amortization or employer contribution schedules of such plans target a 100 percent pension funding ratio over no more than 25 years. (8) Territory The term territory means the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, and American Samoa. (9) Tribal government The term Tribal government means the recognized governing body of an Indian Tribe. (10) Truly balanced budget With respect to a State, the term truly balanced budget means that— (A) the State has a constitutional or statutory requirement that— (i) operating budgets achieve end of year balance