Public Laws

124th Legislature

First Regular Session


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Chapter 213

H.P. 274 - L.D. 353

PART KK

Sec. KK-1. Transfer from Other Special Revenue Funds to Dirigo Health Enterprise Fund. Notwithstanding any other provision of law, the State Controller may transfer up to $20,000,000 in fiscal year 2008-09 from Other Special Revenue Funds to the Dirigo Health Enterprise Fund established in the Maine Revised Statutes, Title 24-A, section 6915 no later than June 30, 2009. On July 1, 2009, the State Controller shall transfer an amount equal to the amount transferred from Other Special Revenue Funds to the Dirigo Health Enterprise Fund from the Dirigo Health Enterprise Fund along with interest to Other Special Revenue Funds as repayment. This transfer is considered an interfund advance to be repaid with interest compounded annually at the earnings rate within the Treasurer of State's cash pool on the date of the advance.

Sec. KK-2. Working capital advance to Dirigo Health Enterprise Fund. For fiscal year 2009-10, the State Controller is authorized to advance up to $25,000,000 from the General Fund to the Dirigo Health Enterprise Fund established in the Maine Revised Statutes, Title 24-A, section 6915 to provide funds for health insurance premium costs paid for by the Dirigo Health Enterprise Fund.

Funds advanced from the General Fund to the Dirigo Health Enterprise Fund for fiscal year 2009-10 must be returned to the General Fund along with interest on a periodic basis commencing not later than April 1, 2010 with final repayment due on or before June 30, 2010. Interest is compounded annually at the Treasurer of State's rate of short-term borrowing.

Interest is compounded annually at the Treasurer of State's rate of short-term borrowing for funds advanced from the General Fund to the Dirigo Health Enterprise Fund for fiscal year 2008-09.

The State Controller shall report monthly to the Joint Standing Committee on Appropriations and Financial Affairs on the status and activity in the Dirigo Health Enterprise Fund.

Except as set forth in this section, the State Controller may not advance any funds from the General Fund to the Dirigo Health Enterprise Fund without express legislative authorization.

Office of the Revisor of Statutes
State House, Room 108
Augusta, ME 04333