Maine Revised Statutes Title 8 Sec. 525 – Fund established; excess revenue to be deposited into General Fund
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Terms Used In Maine Revised Statutes Title 8 Sec. 525
- Authority: means the Combat Sports Authority of Maine created under section 522. See Maine Revised Statutes Title 8 Sec. 521
- 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.
The authority shall establish and maintain a reserve fund called the “Combat Sports Reserve Fund” and shall deposit in the fund all money received pursuant to section 522, as well as any other money or funds from any other sources. At the close of each fiscal year, the State Controller shall transfer from the fund any revenue in excess of operating expenses to the General Fund. [PL 2011, c. 305, §7 (AMD).]
SECTION HISTORY
PL 2009, c. 352, §2 (NEW). PL 2011, c. 305, §7 (AMD).