§ 10-407

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A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

§10–407.

(a)There is a Transportation Network Assessment Fund.

(b)The Fund consists of assessment revenues submitted to the Comptroller from transportation network companies under § 10–406(g) of this subtitle.

(c)The purpose of the Fund is to:

(1)receive assessment revenues submitted from transportation network companies; and

(2)disburse assessment revenues to the appropriate counties and municipalities in accordance with this subsection.

(1)The Comptroller shall:

(i)deposit in the Fund assessment revenues received from transportation network companies; and

(ii)disburse trip assessment revenues to the appropriate counties and municipalities.

(2)The Treasurer is the custodian of the Fund.

(1)The Fund is a continuing, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article, and may not be deemed a part of the General Fund of the State.

(2)No part of the Fund may revert or be credited to:

(i)the General Fund of the State; or

(ii)a special fund of the State.