Sec. G-1. 5 MRSA §1513, sub-§1-Q is enacted to read:
1-Q. Transfer from Maine Rainy Day Fund. Notwithstanding subsection 2 and section 1585, an amount not to exceed $17,278,982 must be transferred by the State Controller from the available balance in the Maine Rainy Day Fund to the unappropriated surplus of the General Fund no later than June 30, 2002 and an amount not to exceed $18,234,610 must be transferred by the State Controller from the available balance in the Maine Rainy Day Fund to the unappropriated surplus of the General Fund no later that June 30, 2003.
Sec. G-2. Investment earnings. Notwithstanding the Maine Revised Statutes, Title 5, section 1513, subsection 3, for the fiscal years ending June 30, 2002 and June 30, 2003, investment earnings that otherwise would have been credited to the Maine Rainy Day Fund must be credited to the General Fund.
Sec. G-3. Maine Rainy Day Fund and Retirement Allowance Fund transfers. Notwithstanding the Maine Revised Statutes, Title 5, sections 1513 and 1517, as the first priority before any other transfer, the State Controller shall at the close of the fiscal years ending June 30, 2002 and June 30, 2003 transfer from the unappropriated surplus of the General Fund an amount equal to 3/4 the excess of total General Fund revenues received over accepted estimates in that fiscal year and transfer that amount to the Maine Rainy Day Fund at the beginning of the next fiscal year. At the close of the fiscal years ending June 30, 2002 and June 30, 2003, no transfers may be made pursuant to Title 5, section 1517.
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