§36-29.5 - Transfer from boating special fund.
[§36-29.5] Transfer from boating special fund. Notwithstanding any law to the contrary, including section 36-27, there shall be deducted from time to time by the director of finance for the purpose of defraying the prorated estimate of central service expenses of government in relation to the boating special fund, five per cent of all receipts and deposits in the boating special fund after subtracting therefrom any amounts pledged, charged, or encumbered for the payment of bonds or interest thereon during the time period for which the deduction is to be made. The deductions shall be transferred to the general fund of the State and shall become general realizations of the State.
For the purpose of this section, the term "any amounts pledged, charged, or encumbered for the payment of bonds or interest thereon" shall include:
(1) Amounts that are so pledged, charged, or encumbered; and
(2) Amounts required by law to be paid from the boating special fund into the general fund of the State to reimburse the general fund for bond requirements for general obligation bonds issued for boating facility purposes.
The chairperson of the board of land and natural resources shall cooperate with the director of finance in effecting the transfer. [L 2000, c 47, §1]
Cross References
Boating special fund, see §248-8.