CHAPTER 205
FORMERLY
HOUSE BILL NO. 357
AN ACT APPROPRIATING BOND PREMIUMS AND SPECIAL FUNDS OF THE STATE; REVERTING CERTAIN FUNDS OF THE STATE ; DEPOSITING CERTAIN FUNDS OF THE STATE TO THE GENERAL FUND AND SPECIFYING CERTAIN CONDITIONS FOR THE EXPENDITURE OF SUCH FUNDS.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE :
Section 1. General Fund Reversions. Notwithstanding the provisions of any other State law, the State Treasurer hereby deauthorizes the remaining appropriation balances, not in excess of the balances listed below, from the following projects and authorizes the transfer of said funds into appropriation 2007-10-02-11-0200 (Reductions) for reversion to the General Fund during Fiscal Year 2008.
Department, Agency, or Instrumentality Appropriation Code
Amount
Department of Natural Resources and Environmental Control
(Beach Preservation) 2007-40-07-03-0802 $3,414,000.00
(Beach Preservation) 2008-40-07-03-0802 $4,070,600.00
Department of Education
(Red Clay – Wilmington Campus
Renovation) 2007-95-32-00-0800 $5,796,200.00
TOTAL $13,280,800.00
Section 2. Appropriation of Bond Premium. Notwithstanding the provisions of 29 Del. C. §7414(a), of the available premium from bonds or revenue notes sold after January 1, 2008, $8,915,800 shall be used in the following amounts for the purposes listed below in order to fully fund projects whose appropriations balances are reverting to the General Fund pursuant to Section 1 of this Act:
Department, Agency, or Instrumentality Amount
Department of Natural Resources and Environmental Control
(Beach Preservation) $7,484,600
Department of Education
(Red Clay – Wilmington Campus
Renovation $1,431,200
TOTAL $8,915,800
Section 3. Appropriation of Special Funds. There is herby appropriated the sum of $2,038,100 from the Bond Sale 196 account and $2,326,900 from the Bond Sale account 197 and 198, all held by the State Treasurer, to the following department in the following amount for the project listed below in order to fully fund projects whose appropriations balances are reverting to the General Fund pursuant to Section 1 of this Act:
Department, Agency or Instrumentality Amount
Department of Education
(Red Clay – Wilmington Campus
Renovation) $4,365,000
TOTAL $4,365,000
Section 4.
Deposit of Special Funds to the General Fund. Notwithstanding the provisions of 18 Del. C. §305, the sum of $250,000 from the Insurance Commissioner Regulatory Revolving Fund appropriation 2008-12-03-02-8600 shall be transferred into appropriation 2008-10-02-11-8400 (Reductions) and deposited into the General Fund.
Section 5. Abandoned Property. For the fiscal year ending June 30, 2008, 29 Del. C. §6102(s) shall be null and void.
Section 6. Deposit of Interest Earned on Special Funds to the General Fund. (a). The sum of $1,885,200 in interest earned from Twenty First Century Fund appropriation 2008-25-01-01-8600 shall be transferred into appropriation 2008-10-02-11-8400 (Reductions) and deposited into the General Fund.
(b) Notwithstanding 29 Del. C. §4815 (b) (3) (a), the sum $1,700,000 in interest earned from the Delaware Standardbred Breeder’s Program Fund appropriation 2008-65-01-05-8023 shall be transferred into appropriation 2008-10-02-11-8400 (Reductions) and deposited into the General Fund.