Legislative Operations Fund

(a)There is hereby created a special fund to be known as the “Legislative Operations Fund,” such fund to be administered by the Legislature. All moneys appropriated for the operation of the Guam Legislature shall be paid directly to the Fund and disbursed by the Legislature.

(b)Within sixty

(60)days after the closing of each calendar year the Legislature shall cause to be published a report of the expenditures of the Fund, including but not limited to a balance sheet, a statement of receipts and a general description of the expenses of the Fund.

(c)The Legislature shall contribute from the Legislature Operations Fund to the Government of Guam Retirement Fund for the Government's share of the costs of the retirement benefits applicable to the Legislature's employees and their beneficiaries.

(d)Notwithstanding any provision of law to the contrary, thirty

(30)days prior to the end of a calendar quarter, one-fourth (1/4) of the annual appropriation to the Legislative Operations Fund shall be transferred from the General Fund to the Legislative Operations Fund.