HARRY HUGHES, Governor                                       2469

(A) THERE IS A STATE RESERVE FUND.

(B) THE STATE RESERVE FUND IS COMPRISED OF;

(1) THE DEDICATED PURPOSE ACCOUNT; AND

(2) THE LOAN FUND ACCOUNT; AND

(3) THE REVENUE STABILIZATION ACCOUNT.
7-310.

(A) IN THIS SECTION "ACCOUNT" MEANS THE DEDICATED PURPOSE
ACCOUNT.

(B) THE DEDICATED PURPOSE ACCOUNT IS ESTABLISHED TO:

(1) RETAIN APPROPRIATIONS FOR MAJOR, MULTI-YEAR
EXPENDITURES WHERE THE MAGNITUDE AND TIMING OF CASH NEEDS ARE
UNCERTAIN; AND

(2) MEET EXPENDITURE REQUIREMENTS WHICH MAY BE
IMPACTED BY CHANGES IN FEDERAL LAW OR FISCAL POLICIES, OR OTHER
SIMILAR CONTINGENCY SITUATIONS.

(C) THE GOVERNOR MAY PROVIDE AN APPROPRIATION IN THE BUDGET
BILL TO THE ACCOUNT FOR A SPECIFIC PURPOSE OR PURPOSES.

(D)(1) FOR THOSE APPROPRIATIONS TO THE ACCOUNT DESIGNATED
FOR A SPECIFIC PURPOSE, AFTER NOTICE TO THE LEGISLATIVE POLICY
COMMITTEE, THE GOVERNOR MAY TRANSFER THE SPECIFIC PURPOSE FUNDS
BY BUDGET AMENDMENT FROM THE ACCOUNT TO THE EXPENDITURE ACCOUNT
OF THE APPROPRIATE UNIT OF STATE GOVERNMENT.

(2) FOR THOSE APPROPRIATIONS TO THE ACCOUNT FOR A
GENERAL PURPOSE, THE GOVERNOR MAY TRANSFER THE GENERAL PURPOSE
FUNDS BY BUDGET AMENDMENT FROM THE ACCOUNT TO THE EXPENDITURE
ACCOUNT OF THE APPROPRIATE UNIT OF STATE GOVERNMENT IT THE BUDGET
AMENDMENT HAS BEEN APPROVED ONLY AFTER THE PROPOSED BUDGET
AMENDMENT HAS BEEN REVIEWED SUBMITTED TO BY THE SENATE BUDGET
AND TAXATION COMMITTEE AND THE HOUSE APPROPRIATIONS COMMITTEE OF
THE GENERAL ASSEMBLY.

(E) THE ACCOUNT IS A CONTINUING, NONLAPSING FUND WHICH IS
NOT SUBJECT TO § 7-302 OF THIS SUBTITLE.

(F) (1) THE UNSPENT BALANCE OF AN APPROPRIATION TO THE
ACCOUNT REVERTS TO THE REVENUE STABILIZATION ACCOUNT 4 YEARS
AFTER THE END OF THE FISCAL YEAR FOR WHICH THE APPROPRIATION WAS
MADE.

(2) IF THE GOVERNOR DETERMINES THAT CERTAIN FUNDS IN
THE ACCOUNT ARE NO LONGER NEEDED FOR THE PURPOSE FOR WHICH THEY
WERE ORIGINALLY APPROPRIATED, THOSE FUNDS MAY BE TRANSFERRED BY

BUDGET AMENDMENT TO THE REVENUE STABILIZATION ACCOUNT.