[§36-29.5]  Transfer from boating specialfund.  Notwithstanding any law to the contrary, including section 36-27,there shall be deducted from time to time by the director of finance for thepurpose of defraying the prorated estimate of central service expenses ofgovernment in relation to the boating special fund, five per cent of allreceipts and deposits in the boating special fund after subtracting therefromany amounts pledged, charged, or encumbered for the payment of bonds orinterest thereon during the time period for which the deduction is to be made. The deductions shall be transferred to the general fund of the State and shallbecome general realizations of the State.

For the purpose of this section, the term"any amounts pledged, charged, or encumbered for the payment of bonds orinterest thereon" shall include:

(1)  Amounts that are so pledged, charged, orencumbered; and

(2)  Amounts required by law to be paid from theboating special fund into the general fund of the State to reimburse the generalfund for bond requirements for general obligation bonds issued for boatingfacility purposes.

The chairperson of the board of land andnatural resources shall cooperate with the director of finance in effecting thetransfer. [L 2000, c 47, §1]

 

Cross References

 

  Boating special fund, see §248-8.