G.E. Tax Fund

The Director of Finance is hereby authorized to establish and create a fund to be known as the "G.E. Tax Fund." All moneys received from the state derived from the imposition of the surcharge established under this article shall be deposited into the G.E. Tax Fund. The Council, in adopting each fiscal year's budget and capital program, shall appropriate any surcharge collected for the following purposes authorized by state law:Operating or capital costs of public transportation within each county for public transportation systems as allowed by law.Expenses in complying with the Americans with Disabilities Act of 1990 as allowed by law.As used in this section, "capital costs" means nonrecurring costs required to construct a transit facility or system, including debt service, costs of land acquisition and development, acquiring of rights-of-way, planning, design, and construction, and including equipping and furnishing the facility or system.Any balance remaining in this fund at the end of any fiscal year shall not lapse, but shall remain in the fund accumulating from year to year. The moneys in this fund shall not be used for any purpose except those listed in this section.