WILLIAM DONALD SCHAEFER, Governor

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - State Finance and Procurement

7-310.

(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 AND APPROVAL BY 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 only after
the proposed budget amendment has been submitted to the Senate
Budget and Taxation Committee and the House Appropriations
Committee of the General Assembly AND APPROVED BY THE LEGISLATIVE
POLICY COMMITTEE.

(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.

- 3795 -