CHAPTER 641
H.P. 852 - L.D. 1234
An Act To Reestablish the Maine Coast Environmental Trust Fund within the Department of Marine Resources
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 12 MRSA §6136 is enacted to read:
§6136. Maine Coast Environmental Trust Fund
1. Creation of trust fund. There is established the Maine Coast Environmental Trust Fund, referred to in this section as "the trust," as an Other Special Revenue Funds account within the Department of Marine Resources.
2. Purpose of trust. The purpose of the trust is to protect and improve the quality of the State's marine environment by providing grants to qualifying organizations for activities to advance scientific research concerning the nature, magnitude and effect of pollution of the State's estuarine, near-shore and off-shore marine environments and the means to abate pollution or preserve and enhance estuarine, near-shore and off-shore marine habitats.
3. Sources for trust. Money obtained from the following sources must be paid to the Treasurer of State for the benefit of the trust:
A. Gifts, bequests and donations to the trust from private individuals or corporations desiring to protect and improve the marine environment through applied research;
B. Grants to the trust from private or public foundations desiring to protect and improve the marine environment through applied and basic research;
C. Funds stipulated for deposit in the trust as part of the terms of settlement of legal actions against corporations, partnerships or individuals for violations of environmental laws, rules or regulations;
D. Funds for research received under any federal oil spill trust fund;
E. Revenues that may be from time to time realized through public bond issues;
F. Federal grants and loans; and
G. Appropriations and transfers authorized by the Legislature.
4. Use and administration of trust. Trust funds must be used to provide grants to meet the purposes of this section. The department shall administer the trust as follows.
A. Unless otherwise specified by the source of a contribution to the trust, 50% of a contribution to the trust must be deposited in a principal account and maintained as a permanent endowment. The income earned on funds held in this account, combined with the remaining 50% of funds contributed to the trust, must be deposited in an operating account and made available for disbursement as grants to accomplish the purposes of this section and as expenditures for purposes of administering the trust.
B. An executive agency is not eligible to receive funding from the trust unless the agency jointly undertakes a research proposal with another entity that is not an executive agency.
C. The department shall give preference to institutions, organizations and entities located and operated in the State.
D. Principal, or interest earned from principal, with special instructions from contributors must be awarded in accordance with the contributors' instructions.
E. All money in the trust not immediately required for payment, pursuant to the provisions of this section, must be invested by the Treasurer of State as authorized by Title 5, section 138, except that the securities in which the trust money is invested must remain part of the trust until exchanged for other securities and the income from all investments must remain a part of the trust unless prohibited by federal law.
5. Report, amendment and termination of trust. The department shall file a report as follows.
A. The department shall report to the Legislature on a biennial basis concerning the activities of the trust.
B. In the event the department determines that the provisions of the trust should be amended, the department shall make appropriate recommendations to the Legislature in its biennial report.
C. The department may recommend in its biennial report that the trust be terminated if termination is determined to be appropriate. In the event that the Legislature terminates the trust, the principal and operating funds must be disbursed in a manner consistent with the purpose of the trust.
Sec. 2. Transfer of funds. Notwithstanding any other provision of law, on or before October 1, 2006, the State Controller shall transfer $25,000 from the unappropriated surplus of the General Fund to the Maine Coast Environmental Trust Fund account as established pursuant to the Maine Revised Statutes, Title 12, section 6136.
Sec. 3. Appropriations and allocations. The following appropriations and allocations are made.
MARINE RESOURCES, DEPARTMENT OF
Maine Coast Environmental Trust Fund
Initiative: Provides funds to restore the clam flats in Stockton Harbor.
OTHER SPECIAL REVENUE
FUNDS 2005-06 2006-07
All Other $0 $25,000
__________ __________
OTHER SPECIAL REVENUE
FUNDS TOTAL $0 $25,000
Effective August 23, 2006.
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