Maryland Code, BUSINESS REGULATION 11-405
Terms Used In Maryland Code, BUSINESS REGULATION 11-405
- 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) The fiscal officer’s certification shall state:
(1) the purposes for which Special Fund money received under § 11-404 of this subtitle was spent or committed during the fiscal year that ends on the June 30 before the report is submitted; and
(2) that the subdivision will hold Special Fund money in a special account and use the money only to help services and facilities within 2 miles of the Pimlico Race Course or 3 miles of the Laurel Race Course.
(c) (1) The Comptroller may not pay Special Fund money to a subdivision unless the fiscal officer of the subdivision submits a timely certification required under subsection (a) of this section.
(2) The Comptroller shall place Special Fund money withheld under paragraph (1) of this subsection in a special account and add it to the money available for payment to the subdivision in the next fiscal year.