HARRY HUGHES, Governor

985

7-303. ENCUMBERED BALANCES.

AT THE END OF A FISCAL YEAR, THE AMOUNT OF THE UNSPENT PART
OF AN APPROPRIATION THAT IS NEEDED TO MEET UNPAID OBLIGATIONS
INCURRED DURING THAT FISCAL YEAR DOES NOT REVERT TO THE GENERAL
FUND OF THE STATE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
parenthetical clause in the second sentence of former
Art. 15A, § 2(a).

The term "General Fund" is substituted for the former
reference to the "general treasury" to conform to
references elsewhere in this article.

7-304. DEDICATED MONEY.

AT THE END OF A FISCAL YEAR, THE UNSPENT PART OF AN
APPROPRIATION FROM A SOURCE THAT STATE LAW OR AN ACT OF CONGRESS
DEDICATES TO A SPECIFIC PURPOSE DOES NOT REVERT TO THE GENERAL
FUND OF THE STATE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second
parenthetical clause in the second sentence of former
Art. 15A, § 2(a).

The term "General Fund" is substituted for the former
reference to the "general treasury", to conform to
references elsewhere in this article.

7-305. CAPITAL EXPENDITURES.

(A)  "CAPITAL EXPENDITURE" DEFINED.

IN THIS SECTION, "CAPITAL EXPENDITURE" INCLUDES AN
EXPENDITURE FOR:

(1)  ACQUISITION OF LAND, BUILDINGS, OR EQUIPMENT; OR

(2)  NEW CONSTRUCTION.

(B)  EXEMPTION FROM REVERSION.

AT THE END OF A FISCAL YEAR, THE UNSPENT PART OF AN
APPROPRIATION FOR A CAPITAL EXPENDITURE MADE THROUGH THE STATE
BUDGET OR A SUPPLEMENTARY APPROPRIATION ACT OTHER THAN AN
ENABLING ACT FOR A GENERAL OBLIGATION LOAN:

(1)  DOES NOT REVERT TO THE GENERAL FUND; AND

(2)  WITH THE APPROVAL OF THE BOARD OF PUBLIC WORKS,
MAY BE CARRIED IN A CAPITAL ACCOUNT UNTIL IT IS SPENT IN
ACCORDANCE WITH SUBSECTION (C) OF THIS SECTION OR UNTIL THE
AUTHORITY TO SPEND THE APPROPRIATION FOR A PROJECT TERMINATES.