An Act To Allocate a Portion of the Land for Maine's Future Fund for the Purchase of Archeological Sites
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 5 MRSA §6203, sub-§1, as amended by PL 1993, c. 728, §4, is further amended to read:
1. Fund established. There is established the Land for Maine's Future Fund that is administered by the board. The Land for Maine's Future Fund consists of the proceeds from the sale of any bonds authorized for the purposes set forth in subsection 3 and any funds received as contributions from private and public sources for those purposes. The Land for Maine's Future Fund must be held separate and apart from all other money, funds and accounts. Eligible investment earnings credited to the assets of the Land for Maine's Future Fund become part of the assets of that fund. Any balance remaining in the Land for Maine's Future Fund at the end of any fiscal year must be carried forward for the next fiscal year. At least 5% of the Land for Maine's Future Fund must be reserved for the purchase of archeological sites.
Sec. 2. 5 MRSA §6203, sub-§3, ¶A, as amended by PL 1999, c. 769, §1, is further amended to read:
A. Acquire property or an interest in property that is determined by the board to be of state significance under the guidelines of this chapter , including archeological sites;
summary
This bill requires at least 5% of the Land for Maine's Future Fund to be allocated for the purchase of archeological sites.