Maine Revised Statutes Title 32 Sec. 18514 – Finance powers
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1. Annual assessment. The interstate commission may levy an annual assessment on and collect the assessment from each member state to cover the cost of the operations and activities of the interstate commission and its staff. The total assessment must be sufficient to cover the annual budget approved each year for which revenue is not provided by other sources. The aggregate annual assessment amount must be allocated upon a formula to be determined by the interstate commission. The interstate commission shall adopt the formula by rule binding upon all member states.
[PL 2017, c. 253, §7 (NEW).]
Terms Used In Maine Revised Statutes Title 32 Sec. 18514
- Interstate commission: means the Interstate Medical Licensure Compact Commission created pursuant to section 18512. See Maine Revised Statutes Title 32 Sec. 18503
- Member state: means a state that has enacted the compact. See Maine Revised Statutes Title 32 Sec. 18503
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Rule: means a written statement by the interstate commission promulgated pursuant to section 18513 that is of general applicability; implements, interprets or prescribes a policy or provision of the compact or an organizational, procedural or practice requirement of the interstate commission; has the force and effect of statutory law in a member state; and includes the amendment, repeal or suspension of an existing rule. See Maine Revised Statutes Title 32 Sec. 18503
- State: means any state, commonwealth, district or territory of the United States. See Maine Revised Statutes Title 32 Sec. 18503
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Obligations. The interstate commission may not incur an obligation of any kind prior to securing the funds adequate to meet that obligation.
[PL 2017, c. 253, §7 (NEW).]
3. Credit. The interstate commission may not pledge the credit of another member state, except by and with the authority of that member state.
[PL 2017, c. 253, §7 (NEW).]
4. Financial audit. The interstate commission is subject to a yearly financial audit conducted by a certified or licensed public accountant, and the report of the audit must be included in the annual report of the interstate commission under section 18513, subsection 1, paragraph K.
[PL 2017, c. 253, §7 (NEW).]
SECTION HISTORY
PL 2017, c. 253, §7 (NEW).