HARRY HUGHES, Governor                                         3549

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall

take effect July 1, 1984.

Energy Overcharge Restitution Trust Fund

FOR the purpose of creating an Energy Overcharge Restitution
Trust Fund; designating certain revenues and money sources
to be placed in the Trust Fund; designating the State
Treasurer as responsible for managing the Trust Fund;
creating a Board of Trustees and prescribing the Board's
duties; prescribing the uses for which the Trust Fund may be
expended; and generally relating to an Energy Overcharge
Restitution Trust Fund.

BY adding to

Article 95 - Treasurer

Section 22F(b)(3)

Annotated Code of Maryland

(1979 Replacement Volume and 1983 Supplement)

BY adding to

Article - Natural Resources

Section 13-101 through 13-107 to be under the new title

"Title 13. Energy Overcharge Restitution Trust

Fund"
Annotated Code of Maryland
(1983 Replacement Volume and 1983 Supplement)

Preamble

WHEREAS, The United States Department of Energy has been
prosecuting oil companies for violations of petroleum pricing and
allocation regulations;

WHEREAS, The Department of Energy has collected over
$200,000,000 as restitution payments as restitution for
unidentifiable consumers injured by oil price overcharging;

WHEREAS, Congress has enacted legislation authorizing that
oil overcharge funds be distributed to the states for
supplemental energy assistance purposes as the most appropriate
means of providing restitution to consumers since it is
impossible to individually identify injured consumers;

WHEREAS, The General Assembly, foreseeing imminent cutbacks
in federal assistance for energy assistance and weatherization
programs for the needy, is seeking to create a long-term source
of funds for those purposes which will not require any additional
tax on other Marylanders, many of whom are facing difficult
financial situations themselves;

WHEREAS, Private benefactors should have a simple means for
channelling donations and bequests to the needy;