Be it enacted by the Legislature of the State of Yap.
Section 1
The sum of $80,000, or so much thereof as may be necessary, is hereby appropriated from the General Fund of the State of Yap for the purpose of providing funding to fund the updating and publication of the Yap State Code during Fiscal Year 2026 and to further initiate the re-establishment of the Yap State Code Commission account within the Yap State Treasury.
Section 2
The sum appropriated by this Act shall be maintained under the authority of the Director of the Office of Administrative Services.
Section 3
(1) The sum appropriated by this Act shall be allotted to the Governor. (2) The Governor shall be responsible for ensuring these funds are used only for the purpose specified under Section 1 of this Act. The sum appropriated by this Act shall be administered in accordance with the provisions of applicable law,
including, but not limited to, the State Financial
Management Act of 1983 and the State Contracts Act. The authority to obligate the funds appropriated by this Act shall lapse as of September 30, 2026. Any part of this appropriation not obligated as of September 30, 2026 shall revert to the General Fund of the State of Yap.
Section 4
The Governor shall submit to the Legislature the performance and financial quarterly reports for each of the quarters in the fiscal year no later than twenty days after the end of each quarter. Bach quarterly report shall include, but not limited to, complete descriptions of the obligations incurred against the funds appropriated by this Act, and the status of the Funds as of the end of the completed quarter.
Section 5
There is hereby established a Yap State Code Commission Account within the Enterprise Fund in the Treasury of the State of Yap where proceeds from the sale of the Yap State Code and any other funds available for the purpose of updating the Code shall be accounted for and used in accordance to applicable statute.
Section 6
This Act shall take effect upon the approval by the Governor, or upon its becoming law
without such approval.