§ 53
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/md/iii-legislative-department/53A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§53.
(a)There is a Transportation Trust Fund.
(b)Except as provided in subsection
(e)of this section, the funds in the Transportation Trust Fund may be used only:
(1)For the purpose of paying the principal of and interest on transportation bonds as they become due and payable; and
(2)After meeting debt service requirements for transportation bonds, for any lawful purpose related to the construction and maintenance of an adequate highway system in the State or any other purpose related to transportation.
(c)Except as provided in subsection
(e)of this section, funds in the Transportation Trust Fund may not be transferred to the General Fund or a special fund of the State.
(d)This section does not apply to:
(1)An allocation or use of highway user revenues for the counties, municipalities, or Baltimore City that is authorized under Title 8, Subtitle 4 of the Transportation Article; or
(2)A transfer of funds in the Transportation Trust Fund to the Maryland Transportation Authority or the Maryland Transportation Authority Fund.
(e)Funds in the Transportation Trust Fund may be used for a purpose not related to transportation or transferred to the General Fund or a special fund of the State if:
(1)The Governor, by executive order, declares a fiscal emergency exists; and
(2)The General Assembly, by legislation passed on a yea and nay vote supported by three–fifths of all the members elected to each of the two Houses of the General Assembly, concurs with the use or transfer of the funds.