Maine Revised Statutes Title 7 Sec. 2-B – Rural Rehabilitation Operating Fund
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Terms Used In Maine Revised Statutes Title 7 Sec. 2-B
- 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
The Rural Rehabilitation Operating Fund is established as a nonlapsing fund in the Department of Agriculture, Conservation and Forestry to be used for the administrative expenditures incurred in the operation of the Rural Rehabilitation Trust Fund and the issuance of scholarships and loans from that trust fund. The Rural Rehabilitation Operating Fund must receive all interest earned on the trust fund balance and any interest collected on outstanding loans receivable. Unexpended balances in the Rural Rehabilitation Operating Fund at the end of a fiscal year may not lapse, but are carried forward to the next fiscal year to be used for the same purpose. [PL 1999, c. 401, Pt. H, §1 (NEW); PL 2011, c. 657, Pt. W, §5 (REV).]
SECTION HISTORY
PL 1999, c. 401, §H1 (NEW). PL 2011, c. 657, Pt. W, §5 (REV).