§ 7-310

Maryland § 7-310

• Jurisdiction: Maryland
• Article gsf: State Finance and Procurement
• Title: 7

Text

(a) In this section, “Account” means the Dedicated Purpose Account.

(b) The Dedicated Purpose Account is established:

(1) to retain appropriations for major, multi-year expenditures where the magnitude and timing of cash needs are uncertain; and

(2) beginning in fiscal year 1996, to meet specific expenditure requirements.

(c) The Governor may provide an appropriation in the budget bill to the Account for a specific purpose or purposes.

(d) For each appropriation to the Account, the Governor may:

(1) include the funds in the State budget subject to appropriation by the General Assembly; or

(2) transfer the funds by budget amendment from the Account to the expenditure account of the appropriate unit of State government only after the proposed budget amendment has been:

(i) submitted to the Senate Budget and Taxation Committee and the House Appropriations Committee of the General Assembly; and

(ii) subject to a 45–day review and comment period by the Legislative Policy Committee.

(e) The Account is a continuing, nonlapsing fund which is not subject to § 7-302 of this subtitle.

(f) (1) The unspent balance of an appropriation to the Account reverts to the Revenue Stabilization Account 4 years after the end of the fiscal year for which the appropriation was made.

(2) If the Governor determines that certain funds in the Account are no longer needed for the purpose for which they were originally appropriated, those funds may be transferred by budget amendment to the Revenue Stabilization Account after the proposed budget amendment has been:

(i) submitted to the Senate Budget and Taxation Committee and the House Appropriations Committee of the General Assembly; and

(ii) approved by the Legislative Policy Committee.