Maryland Code, FINANCIAL INSTITUTIONS 11-611
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Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 11-611
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
For fiscal year 2006 and each fiscal year thereafter, the Governor shall include in the annual budget bill an appropriation to the Division of Financial Regulation for the purpose of creating necessary positions to implement the provisions of this subtitle.