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| 2. Tourism Cooperative Marketing Fund. The Tourism Cooperative | | Marketing Fund, referred to in this section as the "fund," is | | established as an interest-bearing account. All charges collected | | pursuant to this section must be deposited into the fund. All | | interest earned by the account becomes part of the fund. Any | | balance remaining in the fund at the end of the fiscal year does | | not lapse but is carried forward into subsequent fiscal years. | | Revenue to the fund is collected, managed, deposited, invested and | disbursed by the Office of Tourism and Community Development |
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| | | 3. Revenue sources. For purposes of funding its activities, | the Office of Tourism and Community Development | | accept donations from private sources and shall consult with | | donors in making distribution determinations. |
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| | | 4. Administrative costs. The Office of Tourism and Community | Development | | equivalent to the office's administrative costs incurred in the | | collection and remission of the donations, not to exceed 2% of | | the total donations collected. |
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| | | 5. Reporting requirements. The Office of Tourism and | Community Development | | and February 1st of each subsequent year to the joint standing | | committees of the Legislature having jurisdiction over economic | | development matters and appropriations and financial affairs | | identifying the amount collected and how the fund was disbursed | | by the office. |
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| | | 6. Repeal. This section is repealed on July 1, 2007. The | Office of Tourism and Community Development | | recommendations to the Governor and the joint standing committee | | of the Legislature having jurisdiction over economic development | | matters concerning the need for extending authorization of the | | fund. |
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| | | Sec. 17. 5 MRSA §13092-A, as enacted by PL 1989, c. 553, §1 and | | amended by c. 700, Pt. A, §21 and repealed by c. 875, Pt. M, §§8 | | and 13, is repealed. |
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