LD 1011
pg. 2
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LR 919
Item 1

 
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affected by §14, is repealed.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


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