Same: Source of Money

(a)The Governor of Guam and the Director of the Department of Administration shall transfer to the Fund up to six hundred thousand dollars ($600,000) annually of those revenues generated by any increase in the fees collected by the government of Guam for the application for or renewal of business licenses subsequent to June 30, 1995.

(b)The accumulated balance of the Fund inclusive of all receivables shall not exceed three million dollars ($3,000,000). If the accumulated balance of the Fund inclusive of all receivables reaches three million dollars ($3,000,000), funding to the Fund shall be suspended until such time as the accumulated balance of the Fund inclusive of all receivables declines below three million dollars ($3,000,000).

(c)Any funds transferred to the Fund under this Act shall not be subject to the Governor’s transfer authority.