| General Fund revenues received in the immediately preceding | fiscal year and may not lapse, but remains in a continuing | carrying account to carry out the purposes of this section. A | reduction in the fund is not necessary in the event the total | General Fund revenues received in the immediately preceding | fiscal year are less than the total General Fund revenues | received in the fiscal year 2 years previous and if the fund is | at its 6% 10% limit. The limit at the close of a fiscal year is | based on the total General Fund revenues received in the fiscal | year being closed. |
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| | Sec. X-3. 5 MRSA §1513, sub-§3-A, as enacted by PL 1999, c. 749, §2 | and affected by §3, is amended to read: |
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| | 3-A. Investment proceeds; exception. At the close of every | month during which the Maine Rainy Day Budget Stabilization Fund | is at the 6% 10% limitation described in subsection 1, the State | Controller shall transfer from the General Fund to the Retirement | Allowance Fund established in section 17251 an amount equivalent | to the investment earnings that otherwise would have been | credited to the Maine Rainy Day Budget Stabilization Fund. |
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| | Sec. X-4. 5 MRSA §1513, sub-§5, as enacted by PL 2001, c. 439, Pt. | CCCCC, §1, is amended to read: |
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| | 5. Death benefits. The Governor shall allocate funds from | the Maine Rainy Day Budget Stabilization Fund as needed to pay | benefits due pursuant to Title 25, chapter 195-A. Allocations | may be made upon written request of the Chief of the State | Police, State Fire Marshal or Director of Maine Emergency Medical | Services, and after consultation with the State Budget Officer. |
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| | Sec. X-5. 5 MRSA §1513-A, as enacted by PL 2001, c. 439, Pt. T, §2, | is repealed. |
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| | Sec. X-6. 5 MRSA §1517, as enacted by PL 1995, c. 464, §4, is | amended to read: |
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| §1517. Transfer to Retirement Allowance Fund |
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| | At the close of each fiscal year, the State Controller shall | transfer from 32% of the unappropriated surplus of the General | Fund to the Retirement Allowance Fund established in section | 17251 an amount equal to 1/2 of the balance remaining after all | other required transfers from the excess of total General Fund | revenues received over accepted estimates in that fiscal year and | all required deductions of appropriations, financial commitments, | designated funds, transfers from the unappropriated surplus of |
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