Maryland Code, AGRICULTURE 2-1401
Terms Used In Maryland Code, AGRICULTURE 2-1401
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) There is a Maryland Dairy Farmer Emergency Trust Fund.
(c) The purpose of the Fund is to provide financial assistance to dairy farmers during periods of economic hardship due to depressed milk prices.
(d) The Secretary shall administer the Fund.
(e) (1) At the end of each fiscal year, any unspent or unencumbered balance in the Fund that exceeds $15,000,000 shall revert to the General Fund in accordance with § 7-302 of the State Finance and Procurement Article.
(2) The State Treasurer shall hold the Fund separately and the Comptroller shall account for the Fund.
(f) (1) The Fund consists of:
(i) Money appropriated in the State budget to the Fund;
(ii) Any investment earnings of the Fund; and
(iii) Any other money from any other source accepted for the benefit of the Fund.
(2) The Governor may include an appropriation in the State budget each fiscal year for the Fund.
(g) The Fund may be used only to provide financial assistance to dairy farmers during periods of economic hardship due to depressed milk prices.
(h) (1) The Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
(2) Any investment earnings of the Fund shall be credited to the Fund.
(i) The Secretary shall establish procedures for dairy farmers to apply for financial assistance from the Fund.