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ROBERT L. EHRLICH, JR., Governor Ch. 444
THE ANNUITY BOND FUND FOR THE FISCAL YEAR BEGINNING JULY 1, 2005, TO BE
USED ONLY FOR THE PURPOSE OF MEETING THE DEBT SERVICE REQUIREMENTS FOR
FISCAL 2006 ON STATE BONDS TRANSFERRED TO THE GENERAL FUND OF THE STATE.
(2) For any fiscal year in which the actual transfer tax revenue
collections are less than the revenue estimates used as the basis for the
appropriations required under this section, the amount of the deficiency shall be
reconciled as follows:
(i) for the first $3,000,000 of any deficiency, the allocation to the
special fund under subsection (a) of this section as provided under subsections (c) and
(d) of this section for the second fiscal year following the deficiency shall be reduced
by either the amount of the deficiency or $3,000,000, whichever is less: and
(ii) for any deficiency in excess of $3,000,000, the amount in excess
of $3,000,000 shall be reconciled either by the reduction of the allocation to the special
fund under subsection (a) of this section as provided under subsections (c) and (d) of
this section for the second fiscal year following the deficiency or by the
deauthorization of projects authorized in prior fiscal years.
(3) (i) Any amounts to be deauthorized from prior fiscal years under
paragraph (2)(ii) of this subsection shall be proposed by the Governor in the budget of
the second fiscal year following the fiscal year in which there is a deficiency.
(ii) An amount may be deauthorized under this paragraph only as
provided in the State budget bill, as enacted.
Article - Transportation
2-103,1,
(d) The Maryland Transportation Plan shall:
(1) Be revised every [3] 5 years through an inclusive public participation
process;
(2) Include a 20-year forecast of State transportation needs, based on
the financial resources anticipated to be available to the Department during that
20-year period:
(3) Be expressed in terms of goals and objectives; and
(4) Include a summary of the types of projects and programs that are
proposed to accomplish the goals and objectives, using a multi-modal approach when
feasible.
(L) (1) (I) SUBJECT TO § 2-1246 OF THE STATE GOVERNMENT ARTICLE:
1. ON OR BEFORE SEPTEMBER 1 OF EACH YEAR, THE
DEPARTMENT SHALL SUBMIT COPIES OF THE PROPOSED CONSOLIDATED
TRANSPORTATION PROGRAM AND THE SUPPORTING FINANCIAL FORECAST TO THE
GENERAL ASSEMBLY; AND
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