Source: http://fsmlaw.org/fsm/code/code2014/FSMCode2014Tit54Chap08.html
Timestamp: 2018-12-09 22:17:57
Document Index: 84873124

Matched Legal Cases: ['§ 803', '§ 803', '§ 1', '§ 1', '§ 12', '§ 12', '§ 1', '§ 1', '§ 1', '§ 2', '§ 1', '§ 4', '§ 4', '§ 3', '§ 13', '§ 4', '§ 58', '§ 1', '§ 1', '§ 2', '§ 1']

FSMCode2014Tit54Chap08
Editor’s note: Another version of chapter 8 of this title is provided following this chapter. This second version of this chapter is for reference purposes only, as of the time of this codification, the second version of chapter 8 was null and void pursuant to section 87 of PL 17-50, as amended by section 1 of PL 17-83 (section 934 of chapter 8 of the version that follows).
§ 803. Rules and regulations—Promulgation by Secretary of Finance.
§ 803. Rules and regulations---Promulgation by Secretary of Finance.
Source: COM PL 3-32 § 1 (part); TT Code 1970 77 TTC 154; TT Code 1980 77 TTC 154; PL 1-83 § 1(1); PL 4-114 § 12.
Errata: In subsection (2), “plans” is changed to “planes” to correct a typographical error. PL 4-114 § 12.
Source: COM PL 3-32 § 1 (part); TT Code 1970, 77 TTC 155; TT Code 1980, 77 TTC 155: PL 1-83 § 1(2).
(1) (a) The treasurer of the Federated States of Micronesia shall pay eighty percent of the net taxes collected pursuant to section 221(9) of this title and, beginning January 1, 2004 and continuing thereafter, 50 percent of all other net taxes collected pursuant to sections 121, 141, and 221 of this title into the treasury of the State government to which the taxes are attributable for appropriation by the State legislature.
(b) Twenty five percent of the amount remaining, after the transfer of funds pursuant to subsection (1)(a) of this section, of the net taxes collected pursuant to subsection 221(1) of this title shall be placed in an account to be used solely for post-graduate school scholarships or full-time post-secondary courses of study leading to commercial Federal Aviation Administration (FAA) licenses, ratings and certifications. The allottee of the scholarship funds shall be the President of the Federated States of Micronesia or his designee;
(c) Except as specifically provided in parts (a) and (b) of this subsection, all net taxes collected shall be part of the General Fund of the Federated States of Micronesia, subject to appropriation by Congress pursuant to title 55 of this code.
Source: COM PL 3-32 § 1 (part); TT Code 1970, 77 TTC 156; COM PL 4C-4 § 2; COM PL 5-91 § 1; COM PL 6-52 § 4; COM PL 6-118 § 4; TT Code 1980, 77 TTC 156; PL IC-26 § 3; PL 4-114 § 13; PL 7-41 § 4; PL 9-139 § 58; PL 10-68 § 1; PL 13-21 § 1; PL 13-60 § 2; PL 15-24 § 1.
Cross-reference: Title 55 of this code is on Government Finance and Contracts. The statutory provisions on the FSM Congress are found in title 3 of this code.