"Rule is Incomplete" Error When Attempting to Move Program Into New Workspace

When attempting to move a folder with a program into a different workspace, the below exception is thrown:
Rule is incomplete, '<Field Name> is...' requires value

In the below example, the field name is 'New Status ID':
 

This exception is thrown when a smart list within the Folder contains an incomplete filter. To resolve, you can either:
1. Remove the Smart List filter that is incomplete
2. Set a value for the Smart List filter