11 GCA § 50105

Expenditures from the Fund

Guam Code AnnotatedTitle 11 — Finance and Taxation

Any and all expenditures from the Fund shall be for the payment of income tax refunds, earned income tax credits, child tax credits, tax rebate relief and for no other purpose. The fund is not subject to the provisions of 5 GCA § 22414, which provisions would otherwise permit I Maga’lahen Guåhan [Governor of Guam]to pledge the Fund. COL9192018 CH. 50 INCOME TAX REFUND RESERVE FUND

§ The story of this section

Enacted by P.L. 22-140 § IV — introduced as Bill 1097-22
Amended by P.L. 25-43 § 3 — introduced as Bill 164-25 · introduced by Kaleo S. Moylan
Amended by P.L. 26-36 — introduced as Bill 98-26 · introduced by Mark Forbes

Interpreted by the courts:

2014 Guam 15 — In Re Request of I Mina Trentai Dos Na Liheslaturan Guahan Relative to the Use of Funds from the Tax Refund Efficient Pa (2014) · per Robert J. Torres, J. · cited at ¶4

Reconstructed from the Guam Code Annotated. For the authoritative version, see the official PDF.