§157. Maine Military Authority Enterprise Fund

1.  Maine Military Authority Enterprise Fund; established.  The Maine Military Authority Enterprise Fund is established to fund activities of the Maine Military Authority, established in section 391, including, but not limited to, the following:

A. Operating the Maine Readiness Sustainment Maintenance Center; and   [PL 2003, c. 646, §5 (NEW).]

B. Maintaining, rebuilding, repairing, storing and manufacturing equipment for the following:

(1) The State and its political subdivisions;

(2) The United States Department of the Army, Department of the Air Force, Department of the Navy and Department of Homeland Security; and

(3) Foreign governments working in conjunction with the foreign military sales program of the United States Department of Defense.   [PL 2003, c. 646, §5 (NEW).]

[PL 2003, c. 646, §5 (NEW).]

2.  Maine Military Authority Enterprise Fund account.  The Military Bureau shall establish, through the Department of Administrative and Financial Services, Bureau of Accounts and Control, the Maine Military Authority Enterprise Fund account. The funds deposited in the account include, but are not limited to, the following:

A. Appropriations made to the account;   [PL 2003, c. 646, §5 (NEW).]

B. Funds transferred to the account from within the department;   [PL 2003, c. 646, §5 (NEW).]

C. Funds received for the purposes stated in subsection 1, paragraph B;   [PL 2003, c. 646, §5 (NEW).]

D. Earnings from the fund from the Treasurer of State's cash pool; and   [PL 2003, c. 646, §5 (NEW).]

E. In accordance with applicable law, proceeds from the sale of vehicles and equipment under the administrative control of the Maine Military Authority by the state surplus property program in the Department of Administrative and Financial Services, Bureau of General Services.   [PL 2003, c. 646, §5 (NEW).]

[PL 2003, c. 646, §5 (NEW).]

3.  Receive revenue; expend proceeds.  The Adjutant General may receive operating revenues of the Maine Military Authority and expend those proceeds in accordance with section 399.

[PL 2003, c. 646, §5 (NEW).]

4.  Fund flexibility and adjustments.  Notwithstanding the provisions of Title 5, section 1585, in order to provide sufficient flexibility to adjust to market forces, adjustments to the Maine Military Authority Enterprise Fund may be made through financial orders recommended to the Governor by the State Budget Officer.

[PL 2005, c. 12, Pt. MMM, §1 (NEW).]

5.  No obligation of state funds.  If revenues or other sources of operating funds are not sufficient or available as anticipated for the Maine Military Authority Enterprise Fund, there is no obligation to provide state funds.

[PL 2005, c. 12, Pt. MMM, §1 (NEW).]

6.  Quarterly reports.  The Maine Military Authority shall provide quarterly financial statements regarding the Maine Military Authority Enterprise Fund in a format prescribed by the State Controller to the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs and the joint standing committee of the Legislature having jurisdiction over the Maine Military Authority.

[PL 2005, c. 12, Pt. MMM, §1 (NEW).]

SECTION HISTORY

PL 2001, c. 374, §7 (NEW). PL 2003, c. 646, §5 (RPR). PL 2005, c. 12, §MMM1 (AMD).