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2006 LAWS OF MARYLAND
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Ch. 52
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(j) (1) Except as provided in paragraph (2) of this subsection and §
13-209(g) of the Tax - Property Article, for fiscal year 2007 and for each subsequent
fiscal year, the Governor shall include in the budget bill an appropriation to the
Account equal to the amount by which the unappropriated General Fund surplus as
of June 30 of the second preceding fiscal year exceeds $10,000,000.
(2) The appropriation required under this subsection for any fiscal year
may be reduced by the amount of any appropriation to the Account required to be
included for that fiscal year under subsection (e) of this section.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 2006.
Enacted April 7, 2006.
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CHAPTER 52
(House Bill 1331)
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AN ACT concerning
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Operating Budget - Revenue Stabilization Account - Use and Minimum
Appropriation
FOR the purpose of altering a certain percentage used to determine when certain
minimum appropriations to the Revenue Stabilization Account are required and
to calculate certain minimum annual appropriations to the Account; authorizing
the Governor to transfer funds from the Account to General Fund revenues as
necessary to support the operation of State government on a temporary basis
under certain circumstances; limiting the authority of the Governor to transfer
funds from the Account to General Fund revenues under certain circumstances;
and generally relating to the use of the Revenue Stabilization Account and
appropriations to the Account.
BY repealing and reenacting, with amendments,
Article — State Finance and Procurement
Section 7-311
Annotated Code of Maryland
(2001 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Finance and Procurement
7-311.
(a) (1) In this section the following words have the meanings indicated.
(2) "Account" means the Revenue Stabilization Account.
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