Maryland Code, TAX – GENERAL 2-1104
Terms Used In Maryland Code, TAX - GENERAL 2-1104
- 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.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) 2.3% to the Chesapeake and Atlantic Coastal Bays 2010 Trust Fund;
(2) 0.5% to the Waterway Improvement Fund; and
(3) any remaining balance to the Gasoline and Motor Vehicle Revenue Account of the Transportation Trust Fund.
(b) For each fiscal year beginning on or before July 1, 2015, instead of the distribution required under subsection (a)(1) of this section, the Comptroller shall distribute 2.3% of the remaining motor fuel tax revenue as follows:
(1) to the General Fund of the State:
(i) $5,000,000 for each fiscal year beginning on or before July 1, 2011;
(ii) $5,000,000 for each of the fiscal years beginning July 1, 2012, July 1, 2013, and July 1, 2014; and
(iii) $4,624,687 for the fiscal year beginning July 1, 2015;
(2) $8,000,000 to the Budget Restoration Fund for the fiscal year beginning July 1, 2012; and
(3) the balance to the Chesapeake and Atlantic Coastal Bays 2010 Trust Fund.