§ 2-1104

Maryland § 2-1104

• Jurisdiction: Maryland
• Article gtg: Tax - General
• Title: 2

Text

(a) Except as otherwise provided in this section, after making the distributions required under §§ 2–1101 through 2–1103 of this subtitle, from the remaining motor fuel tax revenue, the Comptroller shall distribute:

(1) 2.3% to the Chesapeake and Atlantic Coastal Bays 2010 Trust Fund;

(2) 0.5% to the Waterway Improvement Fund; and

(3) any remaining balance to the Gasoline and Motor Vehicle Revenue Account of the Transportation Trust Fund.

(b) For each fiscal year beginning on or before July 1, 2015, instead of the distribution required under subsection (a)(1) of this section, the Comptroller shall distribute 2.3% of the remaining motor fuel tax revenue as follows:

(1) to the General Fund of the State:

(i) $5,000,000 for each fiscal year beginning on or before July 1, 2011;

(ii) $5,000,000 for each of the fiscal years beginning July 1, 2012, July 1, 2013, and July 1, 2014; and

(iii) $4,624,687 for the fiscal year beginning July 1, 2015;

(2) $8,000,000 to the Budget Restoration Fund for the fiscal year beginning July 1, 2012; and

(3) the balance to the Chesapeake and Atlantic Coastal Bays 2010 Trust Fund.