Sec. P-1. Transfer to reserve for future needs. On or before June 30, 2005, the State Controller shall transfer $23,753,882 from the unappropriated surplus of the General Fund to a General Fund reserve account to offset future funding needs that include: $16,353,882 for the expansion of the Maine Residents Property Tax Program by Public Law 2005, chapter 2; $5,000,000 for future collective bargaining costs; and $2,400,000 for the Maine Clean Election Fund. The State Controller shall transfer $2,400,000 from the reserve account on or before January 1, 2006 to the Maine Clean Election Fund. The State Controller may transfer $5,000,000 from the reserve account no later than June 30, 2006 to the General Fund salary plan upon ratification of a collective bargaining agreement. The remaining balance in the reserve account must be transferred to the unappropriated surplus of the General Fund no later than June 30, 2006.
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