§ 36-206

Maryland § 36-206

• Jurisdiction: Maryland
• Article gab: Alcoholic Beverages and Cannabis
• Title: 36

Text

(a) In this section, “Fund” means the Cannabis Regulation and Enforcement Fund.

(b) There is a Cannabis Regulation and Enforcement Fund.

(c) The purpose of the Fund is to provide funds to cover the costs of:

(1) the operation of the Administration;

(2) administering and enforcing this title; and

(3) supporting the Social Equity Partnership Grant Program established under § 1–323 of this article.

(d) The Administration shall administer the Fund.

(e) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.

(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.

(f) The Fund consists of:

(1) fees distributed to the Fund under § 36–205 of this subtitle;

(2) revenue distributed to the Fund under § 2–1302.2 of the Tax – General Article;

(3) interest earnings of the Fund; and

(4) any other money from any other source accepted for the benefit of the Fund, in accordance with any conditions adopted by the Commission for the acceptance of donations or gifts to the Fund.

(g) The Fund may be used for carrying out this title and supporting the Social Equity Partnership Grant Program established under § 1–323 of this article.

(h) (1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.

(2) Any interest earnings of the Fund shall be credited to the Fund.

(i) The Fund is subject to audit by the Office of Legislative Audits as provided for in § 2–1220 of the State Government Article.

(j) (1) On or before March 15 each year, the Administration shall publish on its website a detailed report on revenue distributed to and expenditures from the Fund.

(2) The report shall also be submitted to the General Assembly in accordance with § 2–1257 of the State Government Article.