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Session Laws, 1986
Volume 768, Page 5   View pdf image
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HARRY HUGHES, Governor                                             5

of this article and the amounts for which current distribution is
deferred under § 323C of this article, and after deducting the
sum of $30,928,000 to be allocated to the General Fund of the
State, shall distribute monthly from the remaining funds:

(1)  16 percent to the Gasoline and Motor Vehicle
Revenue Account in the Transportation Trust Fund; [and]

(2)  16 percent to the Transportation Revenue Sharing
Account in the Transportation Trust Fund[.];

(3) BEGINNING IN JANUARY, 1987, AND CONTINUING

THEREAFTER ON A CUMULATIVE MONTHLY BASIS, $2,500,000 TO THE
TRANSPORTATION TRUST FUND, WITH THE DISTRIBUTIONS CONTINUING
UNTIL THE TOTAL OF THE PAYMENTS EQUALS $100,000,000, AFTER WHICH
NO FURTHER DISTRIBUTIONS SHALL BE MADE UNDER THIS PARAGRAPH; AND

(3) BEGINNING IN JANUARY, 1987, AND CONTINUING
THEREAFTER ON A CUMULATIVE MONTHLY BASIS THROUGH JUNE, 1988,
$2,500,000 TO THE TRANSPORTATION TRUST FUND AND BEGINNING IN
JULY, 1988 AND CONTINUING THEREAFTER ON A CUMULATIVE MONTHLY
BASIS THROUGH OCTOBER, 1990, $3,000,000 TO THE TRANSPORTATION
TRUST FUND, WITH THE DISTRIBUTIONS CONTINUING UNTIL THE TOTAL OF
THE PAYMENTS EQUALS $129,000,000, PROVIDED THAT THE FINAL MONTHLY

PAYMENT SHALL BE $1,500,000, AFTER WHICH TIME NO FURTHER

DISTRIBUTIONS SHALL BE MADE UNDER THIS PARAGRAPH, PROVIDED THAT
PRIOR TO JANUARY, 1987, THE GOVERNOR FINDS THAT AN EMERGENCY
EXISTS IN CONJUNCTION WITH A CRISIS IN THE SAVINGS AND LOAN
INDUSTRY, AND PURSUANT TO APPLICABLE PROVISIONS OF THE STATE
FINANCE AND PROCUREMENT ARTICLE AND OTHER LAW TRANSFERS
$100,000,000 FROM THE TRANSPORTATION TRUST FUND TO THE MARYLAND
DEPOSIT INSURANCE FUND, AND FOR THE PURPOSE OF RESTORING THE
$29,000,000 PREVIOUSLY TRANSFERRED FROM THE TRANSPORTATION TRUST
FUND TO THE GENERAL FUND OF THE STATE UNDER SECTION 3-216(F) OF
THE TRANSPORTATION ARTICLE, FURTHER PROVIDED THAT IF THE GOVERNOR
REQUESTS AND THE GENERAL ASSEMBLY APPROVES AN APPROPRIATION IN
THE BUDGET BILL OR IF THE GENERAL ASSEMBLY PROVIDES AN
APPROPRIATION THROUGH A SUPPLEMENTARY APPROPRIATIONS BILL THAT
TRANSFERS FUNDS FROM THE GENERAL FUND TO THE TRANSPORTATION TRUST
FUND, THE TOTAL DISTRIBUTION OF $129,000,000 SHALL BE REDUCED BY
THE AMOUNT OF ANY SUCH APPROPRIATION AND THE MONTHLY
DISTRIBUTIONS SHALL ONLY CONTINUE UNTIL THE REDUCED AMOUNT HAS
BEEN TRANSFERRED TO THE TRANSPORTATION TRUST FUND, AND PROVIDED
THAT IF THE GOVERNOR FINDS THAT THE MARYLAND DEPOSIT INSURANCE
FUND HAS OBTAINED REVENUES IN EXCESS OF THE REQUIREMENTS OF THE
FUND, THE GOVERNOR BY BUDGET AMENDMENT MAY AUTHORIZE THE TRANSFER
OF FUNDS FROM THE MARYLAND DEPOSIT INSURANCE FUND TO THE
TRANSPORTATION TRUST FUND AND THE TOTAL DISTRIBUTION OF
$129,000,000 SHALL BE REDUCED BY THE AMOUNT OF ANY SUCH TRANSFER
AND THE MONTHLY DISTRIBUTIONS SHALL ONLY CONTINUE UNTIL THE
REDUCED AMOUNT HAS BEEN TRANSFERRED TO THE TRANSPORTATION TRUST
FUND; AND

(4) All other amounts shall be credited to the
General Fund.

 

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Session Laws, 1986
Volume 768, Page 5   View pdf image
 Jump to  
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