PARRIS N. GLENDENING, Governor

Total General Fund Appropriation...........................................

Total Special Fund Appropriation.............................................

Total Federal Fund Appropriation............................................

Total Appropriation................................................................

It is the intent of the General Assembly that a
balance equal to 5% of general fund
revenues be maintained in the Revenue
Stabilization Account as a hedge against an
economic recession. Funds in excess of this
amount should remain in the account until a
determination is made if an alternative use
is beneficial to the financial stability of the
state,

90.01.01.01 Revenue Stabilization Account

General Fund Appropriation,—provided that
$60 million of this appropriation be retained
in the account to meet the 5% of estimated
general fund revenue target provided in §
7-311 of the State Finance and
Procurement Article.

Further provided that the following amounts
of this appropriation may be transferred
from the account to be expended only for
the purposes indicated:

(1) $40 million for expenditure requirements
resulting from changes in federal law,
regulations and fiscal policies;

(2) $64 million to offset revenue reductions
resulting from legislative changes in state
taxes, whether involving personal income
taxes or tax modifications to stimulate
economic development. Funds not required

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STATE RESERVE FUND

193,666,134

159,775,536

32,413,624

1,476,974

Federal Fund Appropriation............................

SUMMARY

1,350,500

9,515,843

Ch. 7