Guam § 22304 - Expenditures Restricted.
Full text of Guam Guam Code Annotated § 22304 — Expenditures Restricted., with citation guidance and answers to common questions.
§ 22304. Expenditures Restricted.
(a) No department or agency may make expenditure of any
Federal funds regardless whether such funds are advanced prior to
expenditure or as reimbursement unless such expenditures are
made pursuant to specific appropriations of the Legislature.
(b) The Health Security Trust Fund, subject to legislative
approval, may be invested or reinvested in bonds or in securities
that are approved for the Retirement Fund, or according to modern
investment practices of similar funds. The appropriations from the
Health Security Trust Fund shall be limited to fifty percent (50%)
of the initial deposit from the proceeds of the sale for the first four
(4) years. Thereafter, expenditures shall be limited to ninety
percent (90%) of the earnings of the Fund.
(c) If Federal funds received are greater than the amount of
such funds appropriated by the Legislature for a specific purpose
pursuant to this Article, the total appropriation level of Federal
and local funds allocated for such purpose shall remain at the level
designated by the Legislature.
Frequently Asked Questions About Guam § 22304
What does Guam Code Annotated § 22304 cover?
Section 22304 ("Expenditures Restricted.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 22304?
A common citation format is "Guam Code Annotated § 22304" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 22304 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.