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Rule: 18.16.106 Prev     Up     Next    
Rule Title: RESTRICTED ASSET ACCOUNT – OBLIGATION OF FUNDS
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Department: TRANSPORTATION
Chapter: BRIDGE AND ROAD SAFETY AND ACCOUNTABILITY PROGRAM
Subchapter: Administration
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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18.16.106    RESTRICTED ASSET ACCOUNT – OBLIGATION OF FUNDS

(1) A local government shall place BARSAA funds distributed by the department and the corresponding matching funds in a restricted asset account within the fuel tax apportionment fund that is carried forward until there is a need for the expenditure. The account must be kept separate from other local government accounts.

(2) A local government must obligate the funds by March 1, five years after the calendar year in which the funds were distributed or would have been distributed if not reserved.

(3) Unobligated funds must be returned to the department within 30 days of invoice date, and deposited in the BARSAA local government restricted account to be allocated for the BARSAA program in the next calendar year.

 

History: 15-70-104, MCA; IMP, 15-70-127, 15-70-130, MCA; NEW, 2017 MAR p. 2278, Eff. 12/9/17.


 

 
MAR Notices Effective From Effective To History Notes
18-165 12/9/2017 Current History: 15-70-104, MCA; IMP, 15-70-127, 15-70-130, MCA; NEW, 2017 MAR p. 2278, Eff. 12/9/17.
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