PARRIS N. GLENDENING, Governor

Ch. 128

Article - Tax - Property

Section 7-237

Annotated Code of Maryland

(1994 Replacement Volume and 1994 Supplement)

BY repealing

Article - Tax - Property

Section 9-223

Annotated Code of Maryland

(1994 Replacement Volume and 1994 Supplement)

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

Article - State Finance and Procurement

7-309.

(a)     There is a State Reserve Fund.

(b)     The State Reserve Fund is comprised of:

(1)     the Dedicated Purpose Account;

(2)     THE CITIZEN TAX REDUCTION AND FISCAL RESERVE ACCOUNT:
[(2)](3) the Revenue Stabilization Account;

[(3)](4) the Economic Development Opportunities Program Fund; and
[(4)](5) the Catastrophic Event Fund.
7-310.

(b) The Dedicated Purpose Account is established [to]:

(1)     TO retain appropriations for major, multi-year expenditures where the
magnitude and timing of cash needs are uncertain; and

(2)     BEGINNING IN FISCAL YEAR 1996, TO meet SPECIFIC expenditure
requirements [which may be impacted by changes in federal law or fiscal policies, or
other similar contingency situations] OTHER THAN THOSE SPECIFIED IN THE CITIZEN
TAX REDUCTION AND FISCAL RESERVE ACCOUNT ESTABLISHED IN § 7- 310.1 OF THIS
SUBTITLE.

7-310.1.

(A) IN THIS SECTION, "ACCOUNT" MEANS THE CITIZEN TAX REDUCTION AND
FISCAL RESERVE ACCOUNT.

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