Maine Revised Statutes Title 12 Sec. 6040 – Watercraft Fund
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(REALLOCATED FROM TITLE 12, SECTION 6038)
(REALLOCATED FROM TITLE 12, SECTION 6038)
The Watercraft Fund, referred to in this section as “the fund,” is established within the department. [RR 2007, c. 2, §3 (RAL).]
1. Sources. The fund is capitalized by money collected from boat registrations pursuant to section 10206, subsection 3 and fines. In addition to those revenues, the commissioner may accept and deposit into the fund money from any other source, public or private.
[RR 2007, c. 2, §3 (RAL).]
Terms Used In Maine Revised Statutes Title 12 Sec. 6040
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Purposes. The commissioner shall use the fund primarily for the purpose of funding vessel operations and maintenance and safety and enforcement programs.
[RR 2007, c. 2, §3 (RAL).]
3. Interest and balances credited to fund. Any interest earned on the money in the fund must be credited to the fund. Unexpended balances in the fund at the end of the fiscal year do not lapse but must be carried forward to the next fiscal year and credited to the fund.
[RR 2007, c. 2, §3 (RAL).]
SECTION HISTORY
RR 2007, c. 2, §3 (RAL).