(a) Except as otherwise provided in a general obligation
bond act, the maximum amount that may be allocated for administrative
expenses shall not exceed 5 percent of the total amount of funds
that the department is required to administer and that are derived
from a general obligation bond act that is approved on or after
January 1, 2007.
   (b) The maximum amount that may be allocated for administrative
expenses shall not exceed 5 percent of the total amount of funds that
result from the sale of revenue bonds by the department.

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Last modified: July 31, 2008