Ch. 203                                    2003 LAWS OF MARYLAND

(4)     the Catastrophic Event [Fundi ACCOUNT; and

(5)     the Joseph Fund ACCOUNT.
7-310.

(a)     In this section ["Fund"] "ACCOUNT" means the Dedicated Purpose [Fund]
ACCOUNT.

(b)     The Dedicated Purpose [Fund] ACCOUNT is established:

(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.

(c)     The Governor may provide an appropriation in the budget bill to the
[Fund] ACCOUNT for a specific purpose or purposes.

(d)     [(1) For those appropriations to the Fund designated for a specific
purpose, the Governor may:

(i) include the funds as special funds in the State budget subject to
appropriation by the General Assembly; or

(ii) after notice to and approval by the Legislative Policy
Committee transfer the specific purpose funds by budget amendment from the Fund
to the expenditure account of the appropriate unit of State government.

(2)] For [those appropriations] EACH APPROPRIATION to the [Fund for a
general purpose] ACCOUNT, the Governor may:

[(i)](1) include the funds in the State budget subject to appropriation
by the General Assembly; or

[(ii)](2) transfer the [general purpose] funds by budget amendment
from the [Fund] 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 [Fund] 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 [Fund] ACCOUNT
reverts to the Revenue Stabilization [Fund] 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 [Fund]
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 [Fund] ACCOUNT after the proposed budget amendment has been

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