|
| 2.__Transfers to fund; limits.__The fund may receive transfers by | the State Controller of unallocated Highway Fund surplus at the | close of a fiscal year as provided in section 1996 and any other | funds identified by law.__The fund may not exceed 10% of the total | Highway Fund revenues received in the immediately preceding fiscal | year and may not lapse, but remains in a continuing carrying | account to carry out the purposes of this section.__The limit at | the close of a fiscal year is based on the total Highway Fund | revenues received in the fiscal year being closed. |
|
| | 3.__Use of fund.__The Legislature may authorize transfers, | appropriations and allocations from the fund only to fund the | costs of the Highway Fund budget up to the expenditure limit | calculated under section 1994 in years when Highway Fund revenues | are less than the amount necessary to finance the level of | expenditures permitted under section 1994. |
|
| | 4.__Investment of funds; proceeds.__The money in the fund may | be invested as provided by law with the earnings credited to the | fund.__At the close of every month during which the fund is at | the 10% limitation described in subsection 2, the State | Controller shall transfer the excess to the Highway Fund Reserve | Fund established under section 1996. |
|
| | Sec. 5. 5 MRSA c. 142, as enacted by PL 2005, c. 2, Pt. A, §5 and | affected by §14, is repealed. |
|
| | Sec. 6. 5 MRSA §1664, last ¶, as amended by PL 2005, c. 2, Pt. A, §6 | and affected by §14, is further amended to read: |
|
| | The total General Fund appropriation for each fiscal year of | the biennium in the Governor's budget submission to the | Legislature may not exceed the General Fund appropriation | limitation established in section 1534 1994. |
|
| | Sec. 7. 5 MRSA §1665, sub-§1, as amended by PL 2005, c. 2, Pt. A, §7 | and affected by §14, is further amended to read: |
|
| | 1. Expenditure and appropriation requirements. On or before | September 1st of the even-numbered years, all departments and | other agencies of the State Government and corporations and | associations receiving or desiring to receive state funds under | the provisions of law shall prepare, in the manner prescribed by | and on blanks furnished them by the State Budget Officer, and | submit to the officer estimates of their expenditure and | appropriation requirements for each fiscal year of the ensuing | biennium contrasted with the corresponding figures of the last | completed fiscal year and the estimated figures for the current |
|
|